By Arkansas Black Vitality

Nov. 25, 2025 — The unanimous appointment of Michael J. Bender as the permanent CEO of Kohl’s is significant, as it adds his name to the small, exclusive list of Black chief executives leading Fortune 500 companies.

Bender’s leadership at the $18 billion retailer places him alongside a distinguished group of Black CEOs currently steering some of the nation’s largest corporations, including Marvin Ellison of Lowe’s, Thasunda Brown Duckett of Teachers Insurance and Annuity Association (TIAA), Christopher Womack of Southern Company, and Calvin Butler Jr. of Exelon.

Bender’s ascension to the top role at Kohl’s comes amid the retailer’s efforts to regain its footing amid declining sales and the company’s third CEO in three years. On Tuesday, Kohl’s reported that third-quarter sales decreased 2.8% year-over-year, to $3.4 billion, with comparable sales down 1.7%.

Bender brings over three decades of leadership experience to the position, with a deep background in large-scale retail and consumer goods. Before joining Kohl’s he served as CEO of Eyemart Express from 2018 to 2022. Earlier in his career, Bender held various senior roles at Walmart Inc., including Chief Operating Officer of Global eCommerce and president of the Walmart West business unit. He also formerly held senior positions at Cardinal Health, Inc. and Victoria’s Secret for L Brands, Inc.

The Board’s decision, which followed a comprehensive external search, was based on his successful tenure as Interim CEO since May 2025. Bender replaced Ashley Buchanan who was fired in May after an internal investigation found that he had directed the company to do business with a vendor founded by someone with whom he had a personal relationship.

“With three decades of leadership experience across retail and consumer goods companies and a deep commitment to the Kohl’s brand, we are confident Michael will continue to lead the Company forward…, said Board Chair John Schlifske.

Bender stated his commitment to the company’s future, saying, “I’m looking forward to reestablishing our leadership position by putting our customers first every day… we’re deeply motivated to accelerate our transformation.”

The appointment of Bender at Kohl’s spotlights a notable group of Black executives now leading major U.S. corporations. Below is a list of Black CEOs, compiled by Arkansas Black Vitality and ranked by total revenues, that spans key sectors, including retail, finance, technology, and logistics.

The table below is updated to include these leaders and their respective companies, illustrating the wide-ranging influence and significant economic scale of the businesses they oversee.