Kohl’s chairman to retire

Menomonee Falls, Wis. Kohl's Corp. said Wednesday that chairman Larry Montgomery will retire from his post on Sept. 1, to be succeeded by president and CEO Kevin Mansell.

The department store operator said the move was part of its ongoing succession planning process. Montgomery, 60, will remain with the company and serve on its board until Jan. 30, 2010. He will also assist with Mansell's transition to chairman.

Montgomery had served as chairman since 2003.

Mansell, 57, will continue his roles as president and CEO when he takes over the chairman role. He has served as president since 1999 and became CEO last year.