The newly created chief operating officer position at Menomonee Falls-based Kohl’s Corp., for which the company has hired Walgreens executive Sona Chawla, will pay an annual base salary of $1.1 million.
Chawla, 48, will begin her role as COO on Nov. 30. She served as a senior leader at Walgreens for the past seven years, most recently as president, digital and chief marketing officer. Chawla also served as a director of retailer Express Inc. until this month.
As a signing bonus and as recompense for her resignation and relocation expenses, Chawla will be paid $1 million upfront. She currently lives in Winnetka, Ill. and is required to relocate her family to the greater Milwaukee area by Sept. 1, 2016.
She will also receive restricted stock valued at $8 million and performance share units valued at $1 million, and will be eligible for the annual incentive plan, which offers a cash incentive of up to 200 percent of the base salary based on team performance. Chawla will also be eligible for health plans and other benefit plans and senior executive perks.
Chawla will report to Kevin Mansell, chairman, president and chief executive officer of Kohl’s. The company has indicated she is a potential successor to Mansell.
She will be responsible for store operations, e-commerce, IT, logistics and construction.
