Ancora Holdings Group, which owns about 2.5% of KSS shares, sent the company’s board a letter lambasting it for “sustained underperformance” and for rejecting acquisition interest that would have paid shareholders $64-$65 per share, well above the $27 price now. Ancora wants CEO Michelle Gass and Chairman Peter Boneparth replaced with leadership that is more turnaround focused, now that KSS operations are suffering in the current inflationary environment. Gass’ strengths are in merchandising and marketing, and the retailer needs expertise in cost containment, margin expansion, assortment ... Log in to view full article.