Ailing department store abruptly sacks CEO for alleged malpractice and stock price soars

A department store has sacked its CEO after an investigation into alleged conflicts of interest. Kohl's announced that Ashley Buchanan, who has been CEO for six months, was relieved of his duties after the company claims it found evidence he favored certain vendors. The department chain said Buchanan didn't disclose this relationship in accordance with its company policies. Buchanon's release comes after an independent firm concluded the ex-CEO 'violated company policies by directing the company to engage in vendor transactions.' The company said the sacking is not attributed to the company's performance, though, the brand is facing some serious headwinds....