Kohl's CEO Tom Kingsbury is stepping down on Jan. 15, to be replaced by current Michaels CEO Ashley Buchanan. Kohl's has been struggling to return to growth as consumers increasingly move away ...

“We always take these decisions very seriously,” Tom Kingsbury, chief executive officer at Kohl’s, said in a press release. “As we continue to build on our long-term growth ...

Ashley Buchanan, the new CEO, landed a pay package totaling about $20 million, while Tom Kingsbury made about $9 million. The company also recently announced store closures and layoffs.

Details about his compensation have been made public through a filing with the U.S. Securities and Exchange Commission .

“We always take these decisions very seriously,” Tom Kingsbury, then Kohl’s chief executive officer, said at the time. “As we continue to build on our long-term growth strategy, it is ...

“We always take these decisions very seriously,” Tom Kingsbury, Kohl’s former chief executive officer, said in a statement in January about the stores closing. “As we continue to build on ...

“We always take these decisions very seriously,” Tom Kingsbury, Kohl’s chief executive officer, said in a statement announcing the closures. “As we continue to build on our long-term ...

The company first announced the closures in January. Kohl's will shutter 27 underperforming stores this Saturday, March 29, as part of its restructuring efforts, according to store webpages.