Department store chain Kohl’s has named Ashley Buchanan as CEO, effective on January 15 next year.

Buchanan will succeed Tom Kingsbury, who will step down from the role and transition into an advisory position through his retirement in May.

Currently, Buchanan is the CEO of The Michaels Companies. Prior to that, he worked as EVP and chief merchant of US e-commerce at Walmart and as EVP and chief merchandise officer at Sam’s Club.

“On behalf of all Kohl’s associates, we thank Tom for his leadership, for his role working with the board on our CEO search, and for supporting Ashley through this transition,” said Michael Bender, board chair at Kohl’s.

“Under his leadership, the company is undergoing a transformation to elevate its product portfolio, enhance the store experience and improve its long-term financial health and profitability.”

Meanwhile, GlobalData MD Neil Saunders casted doubts on the success of the new CEO appointment, pointing out that Buchanan lacks a deeper fashion experience to help Kohl’s rebound.

“Changing the faces at the top table provides, in and of itself, no guarantee of success,” said Saunders.

“And while he [Buchanan] brings some good operational experience, we are somewhat concerned that he does not have deeper expertise in fashion, which is the main arena where Kohl’s needs to course correct.”

Saunders, however, expressed optimism that Buchanan will bring some fresh ideas, which the company “desperately” needs.