CEO Updates at Kohl’s, Michaels and Subway

Changes are taking place atop three-profile retailers in the wake of planned c-suite retirements at two of them. Specifically:

Kohl’s Corp. (Menomonee Falls, Wis.) has hired retail veteran Ashley Buchanan as CEO, effective Jan. 15. He will succeed Tom Kingsbury, who plans to step down and remain with the 1100-unit department store chain in an advisory role until retiring in May 2025.

Buchanan has been President and CEO of The Michaels Cos. since 2020 and, prior to that, held a variety of senior executive roles at Walmart and Sam’s Club.

Board Chair Michael Bender said Buchanan “will bring a steady, proven, innovative leader to Kohl’s as we continue to transform the business and drive future growth.”

As for Michaels, the arts-and-crafts retailer said it has started looking for Buchanan’s successor with executive search firm Spencer Stuart.

Subway, meantime, announced that Global Chief Executive Officer (CEO) John Chidsey will retire from the company at the end of the year, after five years in that role. Carrie Walsh, President of Europe, Middle East and Africa (EMEA) and former Global CMO will assume the role of Interim CEO, while a search is conducted to identify Chidsey’s permanent successor.

Walsh is a 5-year veteran of the at the 37,000-unit global sandwich chain, which said she “will continue to execute Subway’s strategic growth plans, leveraging more than two decades of experience building brands across the restaurant, retail and consumer industries, including at YUM! Brands, Pizza Hut and PepsiCo.”