Following an investigation conducted by outside counsel and overseen by the board’s audit committee, Kohl’s terminated Buchanan for cause, citing undisclosed conflicts of interest related to vendor transactions. The company stated in the announcement that his firing was unrelated to Kohl’s performance, financial reporting, or operational results.

Kohl’s has fired its newly installed CEO, who has spent less than five months in the position, after the retailer found that Ashley Buchanan engaged in unethical behavior.