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Kohl’s expands board at annual meeting

Kohl’s Corp. has moved ahead with its plan to expand its board of directors. 

Kohl's shareholders elected the company's 12 nominees to the board of directors during the company’s virtual annual meeting of shareholders on Wednesday. Kohl’s announced in April that it reached a deal with an activist group of investors who had been working to take control of the retailer.

As part of the agreement, Kohl's expanded its board of directors from 12 members to 15. Two of the three new directors were nominated by the investor group, which collectively own approximately 9.5% of the company's stock. The directors nominated by the investor group and now on the board are Margaret Jenkins, a former director at Tommy Hilfiger parent company PVH Corp and former chief marketing officer at Denny's Corp., and Thomas Kingsbury, an independent director at Big Lots Inc., Tractor Supply Co. and BJ'S Wholesale Club.

In addition, a third independent director selected by Kohl’s and agreed to by the investor group  — Christine Day, former CEO of Lululemon and co-founder of social responsibility-focused fashion platform The House of LR&C — has joined the board.

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