Kohl’s Chairman Peter Boneparth will retire from the retailer’s board at the end of his current term in May of 2024, at which time Michael Bender will become Kohl’s chairman, the company reported.
Boneparth has provided leadership during a tumultuous 15 years at Kohl’s, where he confronted the business effects of the Great Recession, the COVID-19 pandemic and leadership changes, most recently the departure of Michelle Gass as CEO and the introduction of Tom Kingsbury as chief executive.
Kohl’s stated the Villagomez appointment is part of the continuous board refreshment process at the company, which continues to bring in relevant, experienced leaders and enhance the board’s diversity. The board has appointed him to a term expiring at Kohl’s 2024 annual shareholders meeting, when he will stand for election by shareholders. Villagomez initially will serve on the audit committee. With Villagomez’s appointment, the Kohl’s board has been expanded tof 12 directors, including 11 independents.
“On behalf of the entire board, I want to thank Peter (Boneparth) for his extraordinary commitment to Kohl’s during his 15-year board tenure,” Bender said. “His leadership skills, retail acumen and his deep understanding of finance have proved invaluable over the past several years, in particular, as the company navigated a unique set of complex challenges stemming from the global pandemic. His unwavering focus on serving all of Kohl’s stakeholders throughout his time as board chair has left Kohl’s in a strong position as we move into the future.”
