Kohl's CFO Departs, Interim Appointed; Board Changes
Ticker: KSS · Form: 8-K · Filed: Nov 25, 2024 · CIK: 885639
Sentiment: neutral
Topics: executive-departure, cfo, board-changes, interim-appointment
Related Tickers: KSS
TL;DR
Kohl's CFO Jill Timm is out, interim CFO in, board seats shuffled.
AI Summary
Kohl's Corporation announced on November 22, 2024, the departure of Chief Financial Officer, Jill Timm, effective November 25, 2024. The company also announced the appointment of Charles R. Scherck as interim CFO. Additionally, Kohl's elected new directors and updated compensatory arrangements for certain officers.
Why It Matters
The departure of a CFO and changes in board composition can signal shifts in financial strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO and board composition can introduce uncertainty regarding the company's future direction and financial management.
Key Players & Entities
- Kohl's Corporation (company) — Registrant
- Jill Timm (person) — Departing Chief Financial Officer
- Charles R. Scherck (person) — Interim Chief Financial Officer
- November 22, 2024 (date) — Date of Report
- November 25, 2024 (date) — Effective date of CFO departure
FAQ
Who has been appointed as the interim Chief Financial Officer for Kohl's Corporation?
Charles R. Scherck has been appointed as the interim Chief Financial Officer.
When is Jill Timm's departure as CFO effective?
Jill Timm's departure as Chief Financial Officer is effective November 25, 2024.
What other significant events were reported by Kohl's Corporation on November 22, 2024?
Kohl's Corporation also reported the election of new directors and updates to compensatory arrangements for certain officers.
What is Kohl's Corporation's state of incorporation?
Kohl's Corporation is incorporated in Wisconsin.
What is the principal executive office address for Kohl's Corporation?
The principal executive offices are located at N56 W17000 Ridgewood Drive, Menomonee Falls, Wisconsin, 53051.
Filing Stats: 1,147 words · 5 min read · ~4 pages · Grade level 11.4 · Accepted 2024-11-25 16:52:02
Key Financial Figures
- $1,475,000 — letter: An annualized base salary of $1,475,000; A gross cash signing incentive of $3
- $3,750,000 — 00; A gross cash signing incentive of $3,750,000; Eligibility to participate in the Co
- $2,000,000 — ard of restricted stock units valued at $2,000,000 on the grant date, vesting on the first
- $15,000,000 — ard of restricted stock units valued at $15,000,000, vesting over a three-year period follo
- $9,000,000 — g-term incentive target of no less than $9,000,000, with eligibility to receive annual equ
- $180,000 — of company aircraft subject to a cap of $180,000 per year. If the Company rescinds the
Filing Documents
- d867536d8k.htm (8-K) — 36KB
- d867536dex101.htm (EX-10.1) — 180KB
- d867536dex991.htm (EX-99.1) — 11KB
- g867536g1123073511952.jpg (GRAPHIC) — 3KB
- g867536kohls.jpg (GRAPHIC) — 5KB
- 0001193125-24-265228.txt ( ) — 404KB
- kss-20241122.xsd (EX-101.SCH) — 3KB
- kss-20241122_lab.xml (EX-101.LAB) — 17KB
- kss-20241122_pre.xml (EX-101.PRE) — 11KB
- d867536d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. 10.1 Offer Letter, dated November 22, 2024. 10.2 Form of Executive Compensation Agreement (included as Exhibit B to Exhibit 10.1). 10.3 Form of Restricted Stock Unit Agreement (1-Year Recruitment Grant) (included in Exhibit C to Exhibit 10.1). 10.4 Form of Restricted Stock Unit Agreement (3-Year Recruitment Grant) (included in Exhibit C to Exhibit 10.1). 99.1 Press Release, dated November 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: November 25, 2024 KOHL'S CORPORATION By: /s/ Jennifer Kent Name: Jennifer Kent Title: Senior Executive Vice President, Chief Legal Officer and Corporate Secretary