Ashley Buchanan is out at Kohl’s for ‘unethical’ relationships, but investors
are just thrilled he’s gone. Depressing? Yes. Surprising? Sadly not.
In a move that feels like it was scripted by a very jaded screenwriter,
Kohl’s announced the abrupt firing of CEO Ashley Buchanan for having inappropriate
personal relationships with a vendor. And just like clockwork, the stock
jumped around 8%. Because nothing says “corporate governance win” like sacking
the boss and watching your market cap smile in return.
Ashley Buchanan, Chief Executive Officer at Kohl’s, according to LinkedIn (LinkedIn).
It’s the kind of boardroom drama that makes you want to pour a stiff
drink and question late-stage capitalism. A man gets ousted for ethical
violations, and the first thing Wall Street does is send up fireworks.
Let’s be clear: Buchanan wasn’t booted for underperforming. He was
canned for a violation of Kohl’s ethics and vendor policies. Today, that kind
of thing gets you removed faster than you can say “vendor gift basket.” And
yet, investors rejoiced.
Fired for Ethics, Rewarded with Stock Gains
According to CNN,
the Kohl’s board made its decision after investigating “personal conduct” that
went against internal standards. Not financial misconduct, mind you—just a
little old-fashioned corporate entanglement. Unethical behavior, yes. Illegal?
No one’s saying that yet. But enough to justify sending Buchanan to the retail
version of Siberia.
Kohl’s stock rose following the news (screenshot).
And then, almost on cue, Kohl’s shares rose nearly 8%.
Let that sink in. Buchanan walks out the door with his reputation in
tatters, and the stock charts throw a ticker-tape parade. In an industry where
foot traffic is a struggle and Amazon looms like the Death Star – though
they’re having their own issues right now – Wall Street apparently thinks
any change is good change—even if it’s tied to a scandal.
Was He Really That Bad?
Let’s be fair: Ashley Buchanan didn’t inherit a dream gig. He joined
Kohl’s in 2020, fresh off a stint at Walmart, just in time for a global
pandemic and the slow, painful unraveling of mid-tier retail. He tried new
ideas, pushed into activewear, and forged partnerships with brands like
Sephora. But none of it quite landed.
The company’s market share didn’t rebound. Sales stayed lukewarm. The
board faced mounting pressure from activist investors. And now it seems those
same stakeholders were already halfway to the exit door when the ethics
investigation gave them an excuse to slam it shut.
The truth? Wall Street didn’t just fire Buchanan. They ghosted him. The
ethics violation might have been the official line, but the subtext was loud
and clear: this guy wasn’t turning the ship around. Better to cut losses and
call it a reboot.
Depressing, Predictable, and Totally On-Brand for Wall Street
What matters is that there’s fresh leadership now—Tom Kingsbury, the
former interim CEO, is back at the helm—and the stock is up.
Kohl’s fires new CEO Ashley Buchanan after probe finds he violated conflict of interest policies https://t.co/80lPUqF5TG pic.twitter.com/ZgCnNkVUfz
— New York Post (@nypost) May 1, 2025
It’s not just Kohl’s. This is the playbook. Bad news hits, and if it
means someone who wasn’t delivering is out, the markets reward it. There’s no
time for moral grappling when there are share prices to inflate. It’s
capitalism’s version of “don’t ask, don’t tell”—just show us the numbers.
And if those numbers only turn green when someone gets axed? Even
better.
Ethics Are Optional, Performance Is Not
So here we are. Ashley Buchanan is fired. Kohl’s is floating a little
higher. And we all get to watch, a little numb, a little entertained. Maybe you
feel a pang of sympathy for a man whose personal judgment cost him a top job.
Maybe not. But what’s clear is that Wall Street doesn’t care why someone
leaves—only that they do, and preferably fast.
In an industry struggling to stay relevant, maybe it’s no surprise that
investors don’t have the luxury of worrying about personal misconduct. They
want action. They want growth. They want someone to blame. And when the CEO
gets tossed for crossing ethical lines, the only response from the market is a
slow clap and a buy order.
Nothing to see here, folks. Just another day in the wonderfully
detached logic of corporate America. For more, stay tuned to our Trending section.
Ashley Buchanan is out at Kohl’s for ‘unethical’ relationships, but investors
are just thrilled he’s gone. Depressing? Yes. Surprising? Sadly not.
In a move that feels like it was scripted by a very jaded screenwriter,
Kohl’s announced the abrupt firing of CEO Ashley Buchanan for having inappropriate
personal relationships with a vendor. And just like clockwork, the stock
jumped around 8%. Because nothing says “corporate governance win” like sacking
the boss and watching your market cap smile in return.
Ashley Buchanan, Chief Executive Officer at Kohl’s, according to LinkedIn (LinkedIn).
It’s the kind of boardroom drama that makes you want to pour a stiff
drink and question late-stage capitalism. A man gets ousted for ethical
violations, and the first thing Wall Street does is send up fireworks.
Let’s be clear: Buchanan wasn’t booted for underperforming. He was
canned for a violation of Kohl’s ethics and vendor policies. Today, that kind
of thing gets you removed faster than you can say “vendor gift basket.” And
yet, investors rejoiced.
Fired for Ethics, Rewarded with Stock Gains
According to CNN,
the Kohl’s board made its decision after investigating “personal conduct” that
went against internal standards. Not financial misconduct, mind you—just a
little old-fashioned corporate entanglement. Unethical behavior, yes. Illegal?
No one’s saying that yet. But enough to justify sending Buchanan to the retail
version of Siberia.
Kohl’s stock rose following the news (screenshot).
And then, almost on cue, Kohl’s shares rose nearly 8%.
Let that sink in. Buchanan walks out the door with his reputation in
tatters, and the stock charts throw a ticker-tape parade. In an industry where
foot traffic is a struggle and Amazon looms like the Death Star – though
they’re having their own issues right now – Wall Street apparently thinks
any change is good change—even if it’s tied to a scandal.
Was He Really That Bad?
Let’s be fair: Ashley Buchanan didn’t inherit a dream gig. He joined
Kohl’s in 2020, fresh off a stint at Walmart, just in time for a global
pandemic and the slow, painful unraveling of mid-tier retail. He tried new
ideas, pushed into activewear, and forged partnerships with brands like
Sephora. But none of it quite landed.
The company’s market share didn’t rebound. Sales stayed lukewarm. The
board faced mounting pressure from activist investors. And now it seems those
same stakeholders were already halfway to the exit door when the ethics
investigation gave them an excuse to slam it shut.
The truth? Wall Street didn’t just fire Buchanan. They ghosted him. The
ethics violation might have been the official line, but the subtext was loud
and clear: this guy wasn’t turning the ship around. Better to cut losses and
call it a reboot.
Depressing, Predictable, and Totally On-Brand for Wall Street
What matters is that there’s fresh leadership now—Tom Kingsbury, the
former interim CEO, is back at the helm—and the stock is up.
Kohl’s fires new CEO Ashley Buchanan after probe finds he violated conflict of interest policies https://t.co/80lPUqF5TG pic.twitter.com/ZgCnNkVUfz
— New York Post (@nypost) May 1, 2025
It’s not just Kohl’s. This is the playbook. Bad news hits, and if it
means someone who wasn’t delivering is out, the markets reward it. There’s no
time for moral grappling when there are share prices to inflate. It’s
capitalism’s version of “don’t ask, don’t tell”—just show us the numbers.
And if those numbers only turn green when someone gets axed? Even
better.
Ethics Are Optional, Performance Is Not
So here we are. Ashley Buchanan is fired. Kohl’s is floating a little
higher. And we all get to watch, a little numb, a little entertained. Maybe you
feel a pang of sympathy for a man whose personal judgment cost him a top job.
Maybe not. But what’s clear is that Wall Street doesn’t care why someone
leaves—only that they do, and preferably fast.
In an industry struggling to stay relevant, maybe it’s no surprise that
investors don’t have the luxury of worrying about personal misconduct. They
want action. They want growth. They want someone to blame. And when the CEO
gets tossed for crossing ethical lines, the only response from the market is a
slow clap and a buy order.
Nothing to see here, folks. Just another day in the wonderfully
detached logic of corporate America. For more, stay tuned to our Trending section.
