Bruce Besanko to Retire from Kohl’s at the End of the Fiscal Year;
October 10 2019 - 5:45PM
Business Wire
Kohl’s (NYSE: KSS) today announced that Bruce Besanko has
decided to retire from Kohl’s at the end of the fiscal year and
will step down from his position as Chief Financial Officer,
effective November 1. At that time, Jill Timm, Kohl’s Executive
Vice President of Finance, will be promoted to Chief Financial
Officer (CFO). Besanko will remain in a Senior Advisor role until
he departs the company to assist with the CFO transition and
provide support for current company initiatives.
“I want to thank Bruce for his significant contributions to the
company,” said Michelle Gass, Kohl’s CEO. “During his time at
Kohl’s, he has added great value across many parts of the business
and has further strengthened our overall finance organization. We
appreciate that Bruce will continue to support the business through
the end of the year.”
“I’m thankful for my time at Kohl’s and I am confident in the
bright future the company is building,” said Besanko. “I look
forward to continuing to work with the team as we go through our
most meaningful season of the year.”
In the Chief Financial Officer role, Timm will oversee Kohl’s
financial planning and analysis, investor relations, financial
reporting, accounting operations, tax and treasury. She will report
directly to the CEO.
“Jill is a seasoned financial executive at Kohl’s, having served
in various financial leadership positions within the company for
more than 20 years,” said Gass. “She’s been an invaluable partner
to me, Bruce, and the entire leadership team supporting many of our
top strategic initiatives. Jill also has been the key architect of
our Operational Excellence strategy, which continues to be a
critical priority for the company. I have great confidence in her
ability to manage the financial operations of the enterprise and
accelerate our future growth.”
“I am honored to take on the CFO role for Kohl’s,” said Timm.
“It is a very exciting time for the company as we continue to
evolve our strategic initiatives, create new opportunities for
growth and drive value for our shareholders.”
Timm joined Kohl’s in 1999, holding progressive leadership
positions across several areas of finance, most recently as
Executive Vice President of Finance. She has more than 25 years of
finance experience in financial planning, analysis, accounting,
capital planning, investor relations, treasury and tax.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including 2019 earnings guidance. Kohl's intends
forward-looking terminology such as “believes,” “expects,” “may,”
“will,” “should,” “anticipates,” “plans,” or similar expressions to
identify forward-looking statements. Such statements are subject to
certain risks and uncertainties, which could cause Kohl's actual
results to differ materially from those anticipated by the
forward-looking statements. These risks and uncertainties include,
but are not limited to, those described in Item 1A in Kohl's Annual
Report on Form 10-K, which is expressly incorporated herein by
reference, and other factors as may periodically be described in
Kohl's filings with the SEC. Forward-looking statements relate to
the date initially made, and Kohl’s undertakes no obligation to
update them.
About Kohl’s
Kohl’s (NYSE: KSS) is a leading omnichannel retailer with more
than 1,100 stores in 49 states. With a commitment to inspiring and
empowering families to lead fulfilled lives, Kohl’s offers amazing
national and exclusive brands, incredible savings and an easy
shopping experience in our stores, online at Kohls.com and on
Kohl's mobile app. Since its founding, Kohl's has given more than
$700 million to support communities nationwide, with a focus on
family health and wellness. For a list of store locations or to
shop online, visit Kohls.com. For more information about Kohl’s
impact in the community or how to join our winning team, visit
Corporate.Kohls.com or follow
@KohlsNews on Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20191010005816/en/
Jen Johnson, Jen.Johnson@Kohls.com, 262-703-5241
Kohls (NYSE:KSS)
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