Macellum Advisors Files Revised Preliminary Proxy Statement for Director Nominations at Kohl’s Corporation
March 11, 2021 at 06:31 am EST
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On March 11, 2021, Macellum Advisors GP, LLC, Ancora Holdings, Inc., Legion Partners Asset Management, LLC, and 4010 Capital, LLC announced that they have filed a revised preliminary proxy statement for their slate of nominees for the board of directors of Kohl’s Corporation. Macellum Advisors stated that it has identified 5 incumbent directors who they believe are the least qualified to continue serving on the board: Steven A. Burd, Jonas Prising, John E. Schlifske, Frank V. Sica and Stephanie A. Streeter. Macellum Advisors further stated that rather than engaging in discussions, the Company has tried to distract shareholders into believing their campaign is about seizing control of the Company or the board. Macellum Advisors also stated that in the absence of progress towards a resolution in advance of a proxy campaign commencing, it has filed revised preliminary proxy materials announcing its slate of 5 directors to run in opposition to 5 of the Company’s directors. Macellum Advisors announced that its slate of nominees now consists of the following: Jonathan Duskin, Margaret Jenkins, Jeffrey Kantor, Thomas Kingsbury, Cynthia Murray.
Kohl's Corporation is an omnichannel retailer. The Company operates approximately 1,174 stores and a Website (www.Kohls.com). The Companyâs Kohl's stores and Website sell private and national brand apparel, footwear, accessories, beauty, and home products. Its Kohl's stores generally carry a consistent merchandise assortment with some differences attributable to local preferences, store size, and Sephora at Kohl's shop-in-shops (Sephora shops). Its Website includes merchandise which is available in its stores, as well as merchandise that is available only online. Its merchandise mix includes both national brands and private brands that are available at Kohl's. Its private portfolio includes various brands, such as Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Tek Gear, and brands that are developed and marketed through agreements with nationally recognized brands, such as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang.
KOHL'S CORPORATION 
