March 13, 2006
KOHL'S CORPORATION ANNOUNCES EXECUTIVE RETIREMENT
MENOMONEE FALLS, Wis., March 13, 2006 Kohl's Corporation
(NYSE: KSS) announced today that Arlene Meier plans to retire by
the end of 2006. Ms. Meier, who has served as the chief operating
officer since 2000 joined the company in 1989.
"My sixteen years with Kohl's has been both exciting and rewarding,"
Ms. Meier said. "I would like to take this opportunity to thank
all of the associates that I have worked with through the years.
Their dedication to Kohl's is the foundation of the company's success.
To have been a part of Kohl's growth from 66 Midwest stores to 741
stores nationwide has been an incredible journey. I retire from
Kohl's with pride and the knowledge that the management team we
have assembled is the best in the industry to lead the tremendous
growth ahead and continue our outstanding performance."
Larry Montgomery, Kohl's chairman and chief executive officer,
commented, "Arlene has played a significant role in Kohl's
disciplined expansion strategy and strong financial position. From
her involvement in our IPO in 1992 to our most recent announcement
of our first share repurchase program, Arlene has been instrumental
in the development of our capital structure. We are well positioned
to continue our successful growth and we thank Arlene for her tremendous
contributions to our success."
In preparation for Arlene's planned retirement, the company has
been searching for a new principal. Ms. Meier will continue in her
current management capacity until the principal is selected and
joins the company, and she will remain on the board of directors
until the end of the 2006 fiscal year.
Ms. Meier has served as chief operating officer since November
2000. Ms. Meier served as executive vice president --chief financial
officer from October 1994 to November 2000 and was appointed to
the board of directors in March 2000. Ms. Meier joined the company
as vice president - controller in 1989. Ms Meier has 30 years of
experience in the retail industry.
Based in Menomonee Falls, Wis., Kohl's is a family-focused, value-oriented
specialty department store offering moderately priced, exclusive
and national brand apparel, shoes, accessories, beauty and home
products in an exciting shopping environment. Kohl's operates 741
stores in 41 states. For a list of store locations and information,
or for the added convenience of shopping online, visit Kohl's Website
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including guidance on the Company's targeted sales and
earnings. Kohl's intends forward-looking terminology such as "believes,"
"expects," "may," "will," "should,"
"anticipates," "plans," or similar expressions
to identify forward-looking statements. Such statements are subject
to certain risks and uncertainties, which could cause Kohl's actual
results to differ materially from those anticipated by the forward-looking
statements. These risks and uncertainties include, but are not limited
to those described on Exhibit 99.1 to Kohl's annual report on Form
10-K, which is expressly incorporated herein by reference, and other
factors as may periodically be described in Kohl's filings with
Investor Relations Contact:
Wes McDonald, Chief Financial Officer, (262) 703-1893
Vicki Shamion, Vice President of Public Relations (262) 703-1464
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