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Kohl's announces interim CEO Tom Kingsbury to become permanent leader of retailer

Yahoo Finance's Brad Smith reports news that Kohl's interim Tom Kingsbury will stay on to helm the retailer on a permanent basis.

Video transcript

[AUDIO LOGO]

BRAD SMITH: The breaking news doesn't stop here on the 3:00 to 5:00. Kohl's just announcing interim CEO Tom Kingsbury is going to stay on as CEO permanently. He took over as interim CEO in December after former chief executive Michelle Gass decided to leave for Levi Strauss. Shares moving slightly lower on this news.