Macellum Issues Letter to the Kohl’s Board Regarding the Need for a Transparent Update on the Company’s Sale Process

Dear Members of the Board,

We are writing to you regarding your decision to run what appears to be a flawed and opaque review of strategic alternatives. In all of our years investing in the public market, we have never seen a corporate leadership team operate in a more defensive and insular manner when many shareholders seem very supportive of a sale and…