Kohl's reaches deal with activist investors and adds new board members

Kohl's has reached an agreement with a group of activist investors — Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital — that stipulates the retailer add new board members: Margaret Jenkins, former chief marketing officer at Denny's and El Pollo Loco, and Thomas Kingsbury, the former CEO of Burlington Stores. The retailer and the investors also agreed that Christine Day, the former CEO of lululemon, would join Kohl's board.