Activist investors lower demand for board seats from nine to five

Activist investors who are looking to shake up Kohl's business have lowered their previous demand for nine seats on the company's board to five. The group issued a statement saying its "campaign is to construct the strongest possible Board with directors who possess relevant retail, capital allocation, strategy and corporate governance expertise — and who will also serve as strong advocates for shareholders." Kohl's has rejected the demands of the investor group up to this point.