Two top executives are leaving Menomonee Falls-based Kohl’s Corp. just a day before the company reports its first quarter earnings and just after the retailer’s board survived a challenge from activist investors.
Greg Revelle, chief marketing officer, and Doug Howe, chief merchandising officer, will both be leaving Kohl’s, according to a securities filing. Howe’s departure is effective immediately while Revelle will leave on June 1.
Other than describing both men as “departing,” Kohl’s did not provide any additional details on the leadership changes.
“A search for the replacements is already underway,” Kohl’s said, according to CNBC. “In the meantime, we have a deep bench of marketing and merchandising talent that will ensure the continued execution of our strategies.”
Howe joined Kohl’s in 2018 and led the company’s merchandise strategy, including digital, merchandising and buying, planning and allocation, product design, development and sourcing. Prior to Kohl’s, Howe was chief merchandising officer at Qurate Retail Group. He had a base salary of $1,025,000 and total compensation of nearly $5.2 million in 2021.
If Howe was terminated by Kohl’s without cause or he ended his employment for good reason he could be eligible for a nearly $9.4 million severance package.
Revelle joined Kohl’s in 2017 and was responsible for the company’s marketing and customer service organizations, including marketing strategy, brand and creative, media and personalization, credit and loyalty, customer insights and analytics, corporate communications, and philanthropic efforts.
Prior to Kohl’s, Revelle held top marketing roles at Best Buy, AutoNation and Expedia. He had a base salary of $895,833 and total compensation of almost $3.7 million in 2021. His severance package for termination without cause or his own departure for good reason could be around $8.2 million.
The departures come just a week after shareholders re-elected the Kohl’s Corp. board, giving the company’s management a victory over activist investors that sought to elect a new slate of directors and push for a number of changes to the company.
Kohl’s is also expected to report its first quarter earnings Thursday morning.
