Kohl’s activist investor group hopes to name 5 directors, down from 9


An Inc. sign hangs outside a Kohl’s Corp. department store in Huntington Beach, California, U.S., on Saturday, May 11, 2019.

Kyle Grillot | Bloomberg | Getty Images

The group of activist investors looking to seize control of Kohl’s board has reduced the number of directors that it plans to nominate, to five from nine.

In a letter sent to the retailer’s shareholders Thursday morning, the group — which has a combined 9.5% stake in Kohl’s — said it originally nominated nine candidates “in hopes of working constructively with the board to choose from a large pool of candidates to construct a well-balanced board.”

But Kohl’s was quick to reject the initial proposal late last month,…


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