In a notable board transition, Kohl’s, a prominent retail brand, has announced the retirement of Peter Boneparth, the current board chair, after 15 years of service. Michael Bender, a director since 2019 and chair of the Nominating and ESG Committee, will succeed Boneparth as the board chair upon his retirement in May 2024. This transition reflects Kohl’s strategic vision and commitment to effective governance.
Expressing gratitude for Boneparth’s significant contributions, Bender highlighted his confidence in leading Kohl’s into the future. Boneparth, in turn, praised Bender’s retail expertise and unwavering integrity, affirming his belief in Bender’s ability to guide Kohl’s through the next phase of growth.
Board Expansion and New Independent Director: Adolfo Villagomez
Concurrently, Kohl’s has expanded its board by welcoming Adolfo Villagomez as a new independent director, effective November 7. Villagomez, currently the CEO of Progress Residential, brings over two decades of leadership and retail experience, including key roles at The Home Depot. His appointment is part of Kohl’s ongoing strategy to enhance board diversity and bring in seasoned leaders.
Villagomez expressed excitement about joining Kohl’s during this transformative period for the company. His initial role on the Audit Committee reflects his commitment to contributing to Kohl’s strategic initiatives and growth plans.
With these changes, Kohl’s board now comprises 12 directors, with 11 holding independent positions, emphasizing the brand’s dedication to effective governance. These appointments underscore Kohl’s strategic efforts to fortify its leadership team and position the company for sustained success in the dynamic retail landscape.
