Bruce Besanko is stepping down as chief financial officer at Kohl's Corp. later this month and executive vice president of finance Jill Timm will be promoted to take his place.
Bensako will leave the company at the end of the fiscal year on Sept. 30, 2020. H
e will remain in a senior advisor role until he departs "to assist with the CFO transition and provide support for current company initiatives," the Menomonee Falls-based retailer announced late Thursday
in a news release.
Timm will assume her new role when Besanko
officially steps down on Nov. 1.
Besanko joined Kohl's as CFO in 2017 after serving in various executive roles at major retailers including Supervalu Inc., Officemax Inc., Circuit City Stores Inc. and Yankee Candle Co.
“I want to thank Bruce for his significant contributions to the company,” said Michelle Gass, chief executive officer at Kohl's. “During his time at Kohl’s, he has added great value across many parts of the business and has further strengthened our overall finance organization. We appreciate that Bruce will continue to support the business through the end of the year."
Since joining Kohl's in 1999, Timm has worked her way up through the company's finance department from vice president to senior vice president and, most recently, executive vice president. She has more than 25 years of finance experience in financial planning, analysis, accounting, capital planning, investor relations, treasury and tax, Kohl's said.
As CFO, Timm will oversee Kohl’s financial planning and analysis, investor relations, financial reporting, accounting operations, tax and treasury. She will report directly to Gass.
“I am honored to take on the CFO role for Kohl’s,” said Timm. “It is a very exciting time for the company as we continue to evolve our strategic initiatives, create new opportunities for growth and drive value for our shareholders.”
Bensako is the second Kohl's executive in as many months to announce an exit.
In early September, Sona Chawla announced she would leave
the company in mid-October to “to pursue new opportunities."