Kohl's CEO Mansell To Become Chairman, Succeeding Montgomery

   DOW JONES NEWSWIRES 
 

Kohl's Corp. (KSS) President and Chief Executive Kevin Mansell will add the role of chairman to his responsibilities, succeeding Larry Montgomery, who is retiring after 21 years at the retailer.

Montgomery relinquished the CEO title to Mansell a year ago. He plans to step down as chairman effective Sept. 1 and will remain on the board until Jan. 30.

Like all retailers, Kohl's has contended with a major drawdown in consumer spending in the year since Mansell became CEO. But the retailer has continued plans for expansion, aiming to open at least 20 to 25 stores next year and grow its base of credit-card customers.

Mansell has been with Kohl's for 27 years, including 14 as the retailer's general merchandise manager.

Earlier this month, Kohl's posted a slight drop in fiscal second-quarter earnings amid a modest revenue increase. It has been posting stronger results than some fell department-store peers.

Kohl's shares closed at $52.99 on Tuesday and weren't active premarket.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [e-mail]