KSS has reached an agreement with the four activist funds that were waging a proxy battle for seats on the retailer’s board, which will see three new independent directors and an expanded share repurchase program. The investor group, consisting of Macellum Advisors, Ancora Holdings, Legion Partners, and 4010 Capital collectively own 9.3% of Kohl’s outstanding stock. Two of the new directors, retail veteran Margaret Jenkins and former CEO of Burlington Stores, Thomas A. Kingsbury, were selected by the group. They will replace current directors Steve Burd and Frank Sica, who will retire over the next year. The third director is ... Log in to view full article.