Kohl’s Picks a New Chief Technology Officer
Kohl’s Corp. has promoted Siobhán McFeeney to chief technology officer, succeeding Paul Gaffney who is leaving the company on Aug. 1.
McFeeney has been with the company since January 2020, most recently serving as executive vice president of technology.
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Prior to joining Kohl’s, she served as vice president, innovation and strategy at Pivotal Software Inc. from 2014 to January 2020. Prior to that, she served in several leadership roles at AAA Northern California, Nevada and Utah, including chief information officer and interim chief executive officer. Before joining AAA, she served as an audit manager at Deloitte and an auditor at KPMG Ireland.
Kohl’s disclosed the executive changes in a Securities and Exchange Commission filing on Friday.
Gaffney held the title of chief technology and supply chain officer. Kohl’s executive vice president of supply chain will now report directly to Kohl’s chief executive officer Michelle Gass.
Gaffney will receive separation benefits including a one-time severance payment equal to the sum of two times his current annual salary; a pro-rated bonus, payable in March 2023, based on the company’s fiscal 2022 financial performance in an amount equal to 50 percent of the bonus, if any, that he would have received had he been employed by the company at the end of the company’s fiscal year 2022.
Last month, two key Kohl’s executives, chief merchandising officer Doug Howe and chief marketing officer Greg Revelle, left the company in the wake of the company’s disappointing first-quarter performance. Their responsibilities were taken over by team members on an interim basis, though there is a search in progress to find successors for the executives who left.
The Menomonee Falls, Wisc.-based Kohl’s ended in the beginning of July an exhaustive strategic review process that involved considering different alternatives for raising shareholder value. Kohl’s was in exclusive talks to possibly sell itself to The Franchise Group. However, the board, working with Goldman Sachs, determined that a sale of the business was not warranted. The company is considering sale leasebacks of some store properties to raise shareholder value.
