Kohl's Poaches CFO From Supervalu
June 27 2017 - 7:59AM
Dow Jones News
By Joann S. Lublin and Suzanne Kapner
Kohl's Corp. has hired an executive with experience in food and
office supplies to serve as its next chief financial officer,
according to people familiar with the situation.
Bruce Besanko, who is stepping down as the chief financial
officer and chief operating officer of retail and wholesale food
seller Supervalu Inc., is expected to join the department store
chain on July 10, one of the people said. He will report to Kohl's
Chief Executive Kevin Mansell.
Supervalu announced on Monday that Mr. Besanko, who turns 59
years old next month, was leaving the company next week to pursue
another opportunity. An announcement from Kohl's is expected
shortly.
Mr. Besanko is replacing Wesley McDonald, who announced plans in
November to retire this spring after holding the CFO post at Kohl's
for 14 years.
Before joining Supervalu in 2013, Mr. Besanko was the finance
chief for OfficeMax Inc., which is now owned by Office Depot
Inc.
In his new role, Mr. Besanko will help steer Kohl's, which, like
other department-store chains, has struggled with falling foot
traffic and shrinking sales. Kohl's stock closed at $37.52 on
Monday, down 24% so far this year.
Write to Joann S. Lublin at joann.lublin@wsj.com and Suzanne
Kapner at Suzanne.Kapner@wsj.com
(END) Dow Jones Newswires
June 27, 2017 07:44 ET (11:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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