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Hedge fund Ancora seeks ouster of Kohl’s CEO, chairman

(Reuters) -Ancora Holdings, one of the hedge funds that spearheaded a board shake-up last year at Kohl’s Corp, is now pushing for the removal of the U.S. retailer’s chief executive and board chairman, according to a letter sent to the company on Thursday. The move marks the beginning of a new round of shareholder unrest for Kohl’s after the company explored a sale and decided in July to remain independent, leading to a plunge in its shares and disappointing investors who had pushed for a deal. Ancora, which holds a 2.5% stake in Kohl’s, asked for the replacement of CEO Michelle Gass and board chairman Peter Boneparth with business leaders who have operating expertise and experience in turning companies around.

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