Hedge fund wants Kohl's CEO and board chair to be replaced

Ancora Holdings, which has a 2.5 percent stake in Kohl's, wants Peter Boneparth, chairman of the company's board, and CEO Michelle Gass replaced. "The combination of the Boneparth-led Board’s ineffective leadership and management’s poor execution, as evidenced by the company’s numbers, compel us to call for a new chairman and chief executive officer at this critical fork in the road," the hedge fund wrote in a letter stating its position.