Kohl's Chief Executive Michelle Gass will step down and take the helm at Levi Strauss amid renewed calls from activist investors for management and board reshuffles at the struggling department store chain
amid renewed calls from activist investors for management and board reshuffles at the struggling department store chain.and Ancora Holdings after Kohl's decided in July to remain independent after exploring a sale.executive, who became Kohl's CEO in 2018, will leave in December to become president at Levi's early next year before taking over from long-time boss Chip Bergh within 18 months.
At Levi's, Gass faces the challenge of helping the denim maker navigate out of an inflationary environment that has caused a slump in discretionary spending and hit earnings. "I expect Gass' focus at Levi's will be on bringing the company closer to consumers through better distribution and direct selling, particularly online," Neil Saunders, managing director at research firm GlobalData, said.
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