Activist investor continues push for Kohl’s board shake-up

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — An activist investor that has been pressing department chain Kohl’s to make changes to turn around its business is now upping the ante.Macellum Advisors GP, LLC, which has nearly 5% of the outstanding common shares of Kohl’s, is pushing the company to oust some of its long-term directors including its chairman Peter Boneparth, which it says represents a “shadow board.” The latest efforts come as Kohl’s is grappling with weak sales, a droopy stock value and a failed sale of its business. Macellum said there’s an urgent need for change now, rather than waiting another eight months for another contested election at next year’s board meeting.