In a letter to shareholders, KSS warned that the slate of five directors proposed by an activist investor group offer no new value-creating ideas for the retailer, and would disrupt its recent momentum if elected. The group includes Macellum Advisors, Ancora Holdings, Legion Partners, and 4010 Capital, who together own about 9.5% of the company’s shares. In response to the activists pointing out Kohl’s long term underperformance, the retailer emphasized its recent 200% appreciation in share price, noting its success with digital and ... Log in to view full article.