Aug. 21--Kohl's Corp. shares were down about 2% late this morning following the announcement that CEO Larry Montgomery was handing over most day-to-day duties to President Kevin Mansell.

Around 11:30 a.m., the stock was trading at $46.79, down 95 cents. In the last year, the stock has gone as high as $63.97.

There was no indication that the news was directly affecting the stock price. Before today, Kohl's shares have gained 4.2% this year, compared with a 6.6% decline in the Standard & Poor's 500 Retailing Index.

The S&P Retail index was up 0.7% late this morning.

The Menomonee Falls-based company, which has struggled with sales in the last year along with other national retailers, has described the management change as a planned transition.

Montgomery not only will stay on as chairman of Kohl's board, but he also will continue to oversee talent management, human resources, legal and real estate issues. Mansell will be responsible for day-to-day operations and Kohl's long-term growth plan.

Read more about the announcement, which was reported in this morning's Journal Sentinel.

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