Kohl’s on Monday named retail veteran Michael Bender as its permanent CEO , tasking an insider to lead a turnaround after years of sliding sales and shrinking profit amid churn at the top.

Bender, appointed interim chief in May after Kohl’s fired former CEO Ashley Buchanan , will have to reverse several quarters of declining sales as the department-store operator struggled with strategic missteps and intense competition from online and off-price retailers.

Shares of the company, which have more than doubled since Bender took on the interim CEO role, were last down about 1% in volatile trading. The stock was part of the so-called meme stock euphoria in July.

Michael Bender, appointed interim chief in May after Kohl’s fired former CEO Ashley Buchanan, will have to reverse several qua

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