Kohl's names Jill Timm new CFO
today Oct 11, 2019
Kohl’s announced on Thursday the appointment of Jill Timm as chief financial officer, with current CFO Bruce Besanko set to retire from Kohl’s at the end of the fiscal year, effective November 1.
Timm, who is currently Kohl’s executive vice president of finance, in her new role will oversee Kohl’s financial planning and analysis, investor relations, financial reporting, accounting operations, tax and treasury.
She joined Kohl’s in 1999 and has since held various leadership roles within the company, racking up years of finance experience.
“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, Kohl’s CEO.
“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.”
Meanwhile, 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.
“I want to thank Bruce for his significant contributions to the company,” said Gass. “During his time at Kohl’s, he has added great value across many parts of the business and has further strengthened our overall finance organization. We appreciate that Bruce will continue to support the business through the end of the year.”
In Kohl’s last reported quarter, total revenues of $4,430 million fell 3.1 percent from the prior-year quarter’s figure. Its bottom line declined 12 percent on a year-over-year basis.
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