Who is Chandra Holt? Her connection to the fired Kohl's CEO Ashley Buchanan and link to the Jonas Brothers

Who is Chandra Holt Her connection to the fired Kohl's CEO Ashley Buchanan and link to the Jonas Brothers

Kohl's Corporation has terminated CEO Ashley Buchanan after just 106 days in the role, following an internal investigation that uncovered significant ethical violations. The probe revealed that Buchanan directed Kohl's to engage in a multimillion-dollar consulting agreement with Incredibrew, a company founded by his former romantic partner, Chandra Holt. The deal was structured on unusually favorable terms for Incredibrew, and Buchanan failed to disclose his personal relationship with Holt, breaching Kohl's code of ethics. (Why Kohl's investors are happy new CEO was fired after just 106 days at the helm, Kohl's ousts Ashley Buchanan after relationship with vendor)

As a result of these findings, Buchanan has been dismissed for cause. He will forfeit all equity and incentive awards and is required to repay a portion of his $2.5 million signing bonus. Additionally, his nomination for re-election to Kohl's board has been withdrawn. (Kohl's fires new CEO Ashley Buchanan for steering business to former romantic partner, Why Kohl's investors are happy new CEO was fired after just 106 days at the helm, Struggling Kohl's axes CEO as concerns for iconic retail giant grow)

In the wake of Buchanan's departure, Kohl's has appointed Michael Bender, the company's board chair, as interim CEO. Bender brings over 30 years of experience in retail and consumer goods leadership. The company emphasized that Buchanan's dismissal is unrelated to its financial performance or reporting. (Kohl's CEO Fired After Investigation Finds 'Highly Unusual' Business Deal with Former Romantic Partner: Report, Kohl's fires new CEO Ashley Buchanan for steering business to former romantic partner)

Despite the leadership turmoil, investors reacted positively to the news. Kohl's stock surged 9.6% on the day of the announcement, buoyed by the company's better-than-expected preliminary first-quarter guidance. The retailer anticipates a loss of $0.20 to $0.24 per share, compared to analyst expectations of a $0.54 loss, and expects comparable sales to decline 4% to 4.3%, less severe than the projected 6.4% drop. (Struggling Kohl's axes CEO as concerns for iconic retail giant grow, Why Kohl's investors are happy new CEO was fired after just 106 days at the helm)

This incident marks the third CEO change at Kohl's in as many years, highlighting ongoing challenges in leadership stability as the company navigates a competitive retail landscape. (Kohl's CEO Transition: Tom Kingsbury to Step Down, Ashley Buchanan to Take Over | investiment.io)