Kohl’s Corp. is considering cutting ties with the search firm that helped recruit its last chief executive officer, who the company fired just months into his tenure.
Most major search firms offer a guarantee to do a second search if the initial placement goes haywire within the first year. Kohl’s isn’t sure it wants to go back to its original recruiter, Heidrick & Struggles International Inc., and has reached out to at least one rival firm, according to people familiar with the matter who aren’t authorized to speak publicly.
The beleaguered retailer has formed a special committee to select its next leader after it fired Ashley Buchanan several months into his tenure. Buchanan was accused by the company’s board of directing millions of dollars of business to someone he has had a personal relationship with. That person was Chandra Holt, whom he has been romantically involved with, Bloomberg News reported.
Heidrick representatives didn’t reply to multiple r
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