Kohl’s chair to step down, new board members named

American department store chain Kohl’s has announced that its chairman, Peter Boneparth, will be retiring from his position at the end of his current term in May 2024.

Boneparth’s departure comes 15 years after he joined the company as a director, with his role to now be taken over by current board member Michael Bender upon his exit.

In a release, Bender thanked Boneparth for his service to Kohl’s, adding: "His leadership skills, retail acumen and his deep understanding of finance have proved invaluable over the past several years, in particular, as the company navigated a unique set of complex challenges stemming from the global pandemic.”

In addition to this, Kohl’s has also announced that Adolfo Villagomez will be coming on as a new independent director, building on the company’s continued board refreshment process dedicated to elevating experience and diversification.

Villagomez is currently chief executive officer at rental business Progress Residential, where he has been tasked with accelerating digital transformation and improving overall resident experience.

He also brings over two decades of leadership and retail experience to the Kohl’s board, having previously served as the president of The Home Depot’s online business and chief marketing officer for US Retail.