Kohl’s said that Bruce Besanko has decided to retire from the company at the end of the fiscal year and will step down from his position as chief financial officer, effective November 1. At that time, Jill Timm, Kohl’s evp/finance, will be promoted to CFO.
Besanko will remain in a senior advisor role until he departs the company to assist with the CFO transition and provide support for current company initiatives.
In the CFO role, Timm will oversee Kohl’s financial planning and analysis, investor relations, financial reporting, accounting operations, tax and treasury. She will report directly to the CEO. Timm joined Kohl’s in 1999, holding progressive leadership positions across several areas of finance.
“Jill is a seasoned financial executive at Kohl’s, having served in various financial leadership positions within the company for more than 20 years,” said Michelle Gass, CEO, Kohl’s. “She’s been an invaluable partner to me, Bruce, and the entire leadership team supporting many of our top strategic initiatives. Jill also has been the key architect of our Operational Excellence strategy, which continues to be a critical priority for the company. I have great confidence in her ability to manage the financial operations of the enterprise and accelerate our future growth.”