Kohl's fires CEO after an investigation into conflicts of interest

Kohl's Corporation said Thursday it has fired CEO Ashley Buchanan for cause after an investigation found he had violated the company's conflict-of-interest policies.

Buchanan was terminated after an external investigation found that he directed the company to engage in transactions that involved "undisclosed conflicts of interest," according to the company's statement.

The Menomonee Falls, Wisconsin-based department store said it has appointed Michael Bender, its board chair, to serve as interim chief executive officer.

—This is a breaking story and will be updated.