Kohl’s stock price is up almost 10% after CEO Ashley Buchanan was fired for unethical behavior

The retailer said Buchanan’s termination was ‘unrelated to the company’s performance,’ which has declined amid slower sales.

Shares of Kohl’s Corporation (NYSE: KSS) were up nearly 10% on Thursday after the company fired CEO Ashley Buchanan after just four months on the job. It appointed board chair Michael Bender as interim chief executive officer effective immediately.