Kohl’s Corporation announced that it has entered into a settlement agreement with Macellum Advisors GP, LLC, Ancora Holdings, Inc., Legion Partners Asset Management, LLC, and 4010 Capital, LLC, which collectively own 9.3% of Kohl’s outstanding common stock, including options. As part of the agreement, two new independent directors nominated by the Investor Group, Margaret Jenkins and Thomas Kingsbury, will join the Kohl’s Board of Directors, as of the close of the 2021 Annual Meeting of Shareholders. An additional independent director identified by Kohl's, and agreed to by the Investor Group, Christine Day, will join the Board at the same time.
As part of its fast-growing distribution client business, Simon & Schuster has opened a new distribution facility in Jackson, Tennessee. Simon & Schuster is already operating in 400,000 square feet of the facility, in what will eventually be a one million square foot distribution center by the end of the year.
New distribution client Callisto Media, the prolific global publisher of best-selling titles focused on lifestyle, cooking, and children’s books, is set to be one of the first publishers shipped from the Jackson warehouse. The distribution agreement with Callisto Media is effective March 1, 2023.
The company will continue to ship from its Riverside and Milan Distribution Centers.
“The rapid growth of our client business in the last few years has exceeded our own initial expectations when we expanded our distribution capacity in Milan, Tennessee in 2019. With Tennessee as an ideal, geographically central location for shipping nationwide, we’re excited to open this new facility with greater capacity that matches our ambitions for growth in the distribution business,” said Executive Vice President, Chief Financial Officer and Chief Operations Officer Dennis Eulau.
“We are delighted to welcome Callisto Media to our family of clients and look forward to adding their broad list of appealing titles to our distribution portfolio, and to shipping from our new facility in Jackson,” said Michael Perlman, Senior Vice President, Publisher Services. “As we do with all of our clients, we will provide Callisto Media with the first-rate service that will continue to grow the market for their titles.”