Kohl’s fends off activist investor’s bid to reshuffle board

Kohl’s shareholders rejected a bid by activist investor Macellum Advisors to replace as many as 10 of its 13 directors, supporting the retailer’s current board as the company explores a sale. 

Hedge fund Macellum had called for 10 of the board’s 13 members to be replaced, arguing that Kohl’s chief executive Michelle Gass’ efforts to jumpstart growth at the budget department store chain have fallen flat. Read more at NY Post.