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Activist investor Ankora is advocating for new leadership at Coles.

Kohl's CEO Michelle Gass announces that Kohl's will be at the 3rd Street Market in downtown Milwaukee on Friday, July 15, 2022.

Kohl’s Corp. is under attack again from activist investors. This time it’s Ancora Holdings Group.

On Thursday, Ancora, which owns about 2.5% of Cole’s stake, sent a letter to its board advocating leadership changes for both its chairman and chief executive officer.

In a letter under Chairman Peter Vornperth and CEO Michelle Gass, Coles “lacked the right leadership during the very difficult times ahead and is forecasting a high-single-digit decline in sales. We’re turning it around, controlling capital and operating expenses and optimizing fulfillment, marketing and merchandising right away.”

Related: Kohl’s Corp. employs approximately 1,000 seasonal workers in the Milwaukee area.Companies Hosting Two Recruiting Events Nationwide

Related: The future of Kohl’s Corp. is uncertain as the investor battle comes to an end, and the company is being considered for sale. 4,000 local jobs, headquarters at risk

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