Kohl’s Taps Dave Alves as President, COO
● Alves has a background in department stores and the off-price channel.
Chief executive officer Tom Kingsbury is moving fast to rebuild the team at Kohl's Corp.
On Tuesday, Kingsbury announced that Dave Alves has been appointed president and chief operating officer, starting in April. Three weeks ago, Nick Jones was named Kohl's chief merchandising and digital officer, and just a few days before that, Kingsbury himself stepped up to CEO after serving as interim CEO following the departure of Michelle Gass, who left in early December to join Levi Strauss & Co. as president and CEO-in-waiting.
At Kohl's, the president's slot has been vacant since 2019. Sona Chawla was president from 2018 to 2019, after serving as chief operating officer from 2015 to 2018.
Both Alves and Jones will report to Kingsbury.
The strengthening of the Kohl's senior leadership is expected to be among the topics covered Wednesday, when the company reports its results for the fourth quarter and year end and holds a conference call with analysts.
The appointment rounds out the senior level. Other key executives include chief marketing officer Christie Raymond and chief financial officer Jill Timm. “Nothing else is open right now,” a Kohl's spokeswoman told WWD.
Kingsbury praised Alves' “deep retail background” in department stores and the off-price channel as a strong addition to the Kohl's team.
“We are thrilled to have Dave join our senior leadership team as we drive the business forward,” Kingsbury said in a statement. “Kohl's is a tremendous company with a strong and loyal customer base, and Dave is joining us at a time when we are elevating our business and our offerings for the next generation of shoppers.”
Alves, a more than 30-year retail veteran, most recently served as the president and chief retail officer for Bealls Retail Group. Prior to that, he held leadership roles at TJX Canada and TJX Europe, Hudson's Bay and Sterling Shoes.
“I've long admired the Kohl's brand and business model throughout my career and I am excited to join the team,” Alves said in a statement. “Retail is a dynamic and fast-paced industry that must constantly evolve with consumer preferences and behaviors, and I think Kohl's does a great job staying true to its heritage while pushing the retail experience forward. I look forward to being part of the company's bright future.”
As part of the CEO announcement earlier in February, Kohl's said it had entered into a “cooperation agreement” with activist investor Macellum, which owns nearly 5 percent of shares at Kohl's and has previously asked the company to consider taking an offer to sell its business and to put a Macellum representative on the board.
Late last month, Kohl's cut less than 60 positions across the company as it grapples with softer demand due to inflation. In November, Kohl's pulled its guidance for the full year and did not share projections for the fourth quarter, citing “macroeconomic headwinds” and its recent CEO transition.
Kohl's also downgraded its outlook in August citing inflation and weaker consumer spending, especially among middle-income customers.