As The Company Seeks A Buyer, Kohl's Loses Two Senior Executives

Kohl's Corp (NYSE:KSS) announced on Wednesday that two of its senior executives are resigning, as the U.S. department store operator searches for a buyer amidst pressure from activist investors to sell itself.

In extended trading, shares of the business slid 3.6% to $41.4. Chief Marketing Officer Greg Revelle will leave Kohl's in June, while Chief Merchandising Officer Doug Howe will retire immediately.

The U.S. department store chain said via email that Revelle and Howe are leaving the company to pursue other possibilities and that a hunt for their replacements has already begun.

In recent months, activist investors Macellum Advisors GP LLC and Engine Capital LP have requested that Kohl's sell itself.

The company's stockholders rejected moves by Macellum Advisors to replace ten board members last week.