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Michelle Gass

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Michelle Gass
Born
Maine, United States
NationalityAmerican
EducationWorcester Polytechnic Institute (B.S.), University of Washington (MBA)
OccupationBusiness executive
CompanyLevi Strauss & Co.
TitlePresident and Chief Executive Officer of Levi Strauss & Co.

Michelle Gass is an American business executive who is the president and chief executive officer of Levi Strauss & Co., the San Francisco based denim and apparel company, a role she has held since January 2024.[1] As of the company's March 2026 proxy statement she was 58 years old.[2] She grew up in Maine before beginning a business career that spanned consumer products, coffee retailing and department stores.[3]

Gass spent more than sixteen years at Starbucks, where she was credited with building the Frappuccino blended coffee line into a multibillion dollar business and later led the company's operations across Europe, the Middle East and Africa.[4] She joined Kohl's Corporation in 2013 and rose through merchandising and customer facing roles before becoming chief executive in May 2018, a position she held for four and a half years.[5] As Kohl's chief executive she pursued a strategy built around a long term partnership with Sephora and remained in the role through two rounds of activist investor pressure that sought to force a sale of the company.[6]

Gass left Kohl's in December 2022 to join Levi Strauss & Co. as president, succeeding Chip Bergh as chief executive on 29 January 2024.[7] She sits on the board of directors of PepsiCo and previously served on the board of Kohl's.[8] In 2018 Fortune magazine named her to its Businessperson of the Year list and to its Most Powerful Women ranking, and in 2026 the University of Arizona's Eller College of Management named her its Executive of the Year.[9][10][11]

Early life and education

Gass grew up in Maine, in what a 2026 profile from her business school described as a hardworking family.[12] She studied chemical engineering at Worcester Polytechnic Institute (WPI) in Worcester, Massachusetts, graduating in 1990, and later earned a master of business administration degree from the University of Washington.[13][14] In May 2025 Gass returned to WPI to deliver the university's undergraduate commencement address and was awarded an honorary doctorate.[15] In her remarks she told graduates that her career path was "more of a jungle gym than a ladder" and addressed the question of how a chemical engineer became the chief executive of an apparel company, using the answer to encourage students to think beyond conventional career paths tied to their technical training.[16][17]

Career

Procter & Gamble, 1990

Gass began her career at Procter & Gamble in 1990, working in product development and brand management in the consumer goods company's operations.[18]

Starbucks, 1996 to 2013

Gass joined Starbucks Corporation in 1996 when the company operated fewer than 1,000 stores.[19] Over more than sixteen years there she held leadership positions spanning marketing, global strategy and merchandising, including executive vice president of marketing and category.[20] A 2011 Forbes profile described her as having transformed the Frappuccino blended coffee line from a niche two flavor product into a multibillion dollar business for the company, and credited her with growing the Seattle's Best Coffee brand during her tenure.[21] Her final role at the company was president of Starbucks Europe, Middle East and Africa, where she was responsible for the retailer's owned and licensed store operations across the region.[22][23]

Kohl's, 2013 to 2018: chief customer officer to chief merchandising officer

Gass joined Kohl's Corporation in 2013 as chief customer officer.[24] The following year she became an integral leader in creating what the company called its "Greatness Agenda," a strategic framework built around five pillars: amazing product, incredible savings, an easy shopping experience, personalized customer connections and winning teams.[25] In 2015 she was named chief merchandising and customer officer, a role in which she led the launch of Under Armour products in Kohl's stores and oversaw an early collaboration with Amazon.[26] In 2017 Gass was named chief executive elect of Kohl's, and she formally became chief executive officer in May 2018.[27]

Kohl's, 2018 to 2022: chief executive officer

As chief executive, Gass continued to build out the Greatness Agenda, emphasizing investment in omnichannel and technology capabilities, store experience, a new loyalty and personalization program, inventory localization, new brand and category partnerships, speed to market and talent development.[28] Kohl's stock price nearly doubled during her first year as chief executive as the company held its store footprint steady while several competitors, including Sears and J.C. Penney, closed hundreds of locations.[29] Fortune magazine described her most significant early initiative as the company's partnership with Amazon, under which Kohl's stores accepted Amazon returns in exchange for foot traffic, calling the move "risky but revolutionary."[30]

In August 2020 Kohl's announced a long term partnership with Sephora, and by 2022 Gass's administration had grown the beauty concept from an initial rollout to more than 400 shops opened that year alone, taking the total number of Sephora at Kohl's locations past 600, with roughly 850 stores, or about 73 percent of the chain, ultimately slated to carry the format.[31][32] Gass called the Sephora partnership "transformational" and projected it would generate $2 billion in annual revenue by 2025.[33]

Gass's tenure was also marked by sustained pressure from activist investors seeking a sale of the company, discussed in detail below. On 8 November 2022, Kohl's announced that Gass would step down as chief executive by early December to become chief executive in waiting at Levi Strauss & Co., serving first as that company's president.[34] She left Kohl's effective 2 December 2022, having served just over four and a half years as chief executive.[35]

Levi Strauss & Co., 2023 to present

Gass joined Levi Strauss & Co. as president effective 1 December 2022 under an employment agreement that set her initial base salary at $1,475,000 and an annual incentive plan target of 175 percent of base salary.[36] She worked in that role alongside then chief executive Chip Bergh, who had led the company since 2011, before succeeding him as president and chief executive officer on 29 January 2024; she was elected to the company's board of directors in 2023.[37] She is also a member of the board of directors of the Levi Strauss Foundation, an independent non-profit entity that is separate from the company's own consolidated operations.[38]

Under Gass, Levi Strauss & Co. has pursued a strategy she has described as narrowing the company's focus, improving operational execution and building organizational agility, with a particular emphasis on direct-to-consumer sales and the Levi's brand.[39] Reporting the company's fiscal 2025 results in January 2026, Gass said the company had "elevated the Levi's brand and delivered faster growth and higher profitability" and described the business as being at an inflection point as it worked to define its next chapter.[40] As of the company's most recent quarterly results and its March 2026 annual proxy statement, Gass continued to serve as president and chief executive officer.[41]

Leadership and management style

Speaking about the retail environment as Kohl's chief executive, Gass said, "We're going through a transformative time in retail, and I believe that Kohl's is uniquely positioned" to lead industry change, a framing she repeated across the Greatness Agenda initiatives she oversaw as chief merchandising officer and then as chief executive.[42]

Facing activist pressure in 2022, Gass argued for staying the course on Kohl's turnaround plan rather than pursuing a quick sale, telling reporters, "We have initiatives in our hand that we've never had before" and "We have completely restructured our business for profitability."[43] Asked whether Kohl's could return to the sales levels it had achieved before 2012, she answered "Yes," adding "We've got to see this through."[44] She was also willing to name specific weaknesses publicly, telling the same interviewer that "the single biggest opportunity that we have to improve is the women's business," a direct acknowledgment of a persistently underperforming category rather than a general claim of strength.[45]

In a 2026 address, Gass described her own leadership philosophy as combining data with imagination, trusting mentors, leading with empathy and humility, and treating uncertainty as something every leader faces rather than a personal failing. She characterized leadership itself as "an act of service."[46]

Major deals and strategic decisions

The two defining strategic bets of Gass's career at Kohl's were the Amazon returns partnership, launched during her time as chief merchandising officer and expanded after she became chief executive, and the Sephora at Kohl's partnership announced in August 2020.[47] The Sephora partnership was scaled aggressively: more than 400 shop-in-shops opened in 2022 alone, bringing the total past 600 locations and pushing accessories category sales, which include beauty, up 9 percent compared with the prior year even as total net sales declined.[48]

In March 2022, facing an intensified activist campaign, Gass unveiled a "complete reinvention" plan for Kohl's that combined the continued Sephora rollout with a commitment to open 100 new small-format stores over four years in markets that had traditionally been considered too small for a full-size Kohl's location, alongside a target of 7 to 8 percent operating margins.[49][50]

Gass also oversaw Kohl's response to a series of acquisition approaches in 2022. In January 2022, Starboard Value affiliate Acacia Research offered approximately $64 a share, or roughly $9 billion, for the company, and Sycamore Partners countered at $65 a share.[51] In February 2022 the board adopted a shareholder rights plan, commonly known as a poison pill, to guard against a hostile approach.[52] In June 2022 the retail holding company Franchise Group entered exclusive negotiations to buy Kohl's for about $60 a share, or roughly $8 billion, with reports at the time indicating Franchise Group intended to retain Gass as chief executive; Franchise Group subsequently sought to lower its offer.[53] In July 2022, after engaging more than 25 potential parties, Kohl's terminated the Franchise Group talks and ended its strategic review, citing deteriorating retail conditions; Kohl's shares fell more than 15 percent in premarket trading on the news.[54]

At Levi Strauss, Gass's tenure as chief executive has been defined by a strategic narrowing toward the core Levi's brand and direct-to-consumer growth rather than a single large acquisition or divestiture, according to the company's own description of her strategy in its fiscal 2025 results announcement.[55]

Financial and market performance

In Gass's first year as Kohl's chief executive, the company's shares nearly doubled while store closures swept the rest of the department store sector.[56] By early 2022 Kohl's was reporting record profitability, with management raising full year earnings-per-share guidance for fiscal 2021 by more than 20 percent, and fiscal 2021 net sales reached $18.5 billion, a decline of about 2 percent from pre-pandemic 2019 levels.[57] Across the three fiscal years from 2020 through 2022, the period covered by Kohl's long-term performance-based pay plan for Gass and other executives, the company recorded combined net sales of $50.663 billion, combined operating income of $1.663 billion and combined operating cash flow of $3.280 billion, all of which the compensation committee certified as above the maximum level built into her incentive awards.[58] Her final fiscal year in charge, 2022, was weaker: net sales fell 7 percent compared with 2021 and the company reported an operating margin of only 1.4 percent.[59]

Gass's compensation at Kohl's tracked the company's performance under Securities and Exchange Commission disclosure rules. Her total reported pay was $12,583,568 for fiscal 2017, the year she was named chief executive elect; $12,340,445 for fiscal 2018, her first full year as chief executive; $8,983,392 for fiscal 2019; $12,855,375 for fiscal 2020; $12,924,834 for fiscal 2021; and $9,034,094 for fiscal 2022, her final partial year before departing in December.[60][61]

At Levi Strauss, the company reported fiscal 2025 net revenues of $6.3 billion, up 4 percent on a reported basis and 7 percent organically, with net income from continuing operations of $502 million and diluted earnings per share of $1.26. Fourth quarter net revenues were $1.8 billion, direct-to-consumer revenues grew 10 percent organically and represented 49 percent of total net revenues, gross margin expanded to 61.7 percent, and adjusted operating margin improved to 11.4 percent from 10.7 percent the prior year.[62] Gass's total compensation as Levi Strauss chief executive was reported as $36,434,452 for fiscal 2023, a figure that included a sign-on bonus and equity awards tied to her appointment and to compensation forfeited when she left Kohl's; $13,704,334 for fiscal 2024; and $16,145,173 for fiscal 2025, made up of a base salary of $1,475,000, a non-equity incentive payout of $3,032,969, stock awards of $8,129,318, stock appreciation right awards of $3,144,899 and other compensation of $362,987.[63]

Board memberships and outside roles

Gass was elected to the board of directors of PepsiCo, Inc. effective 6 March 2019, and the appointment was formally announced from the company's Purchase, New York headquarters two days later; she continues to serve on the PepsiCo board as of the company's most recent disclosures.[64][65] She previously served on the board of directors of Kohl's Corporation during her time as chief executive there.[66] Gass has also been elected to Levi Strauss & Co.'s own board, and she is a member of the board of directors of the Levi Strauss Foundation.[67] She is also listed as an active member of The Business Council, an invitation-only organization of chief executives, where her listed title is president and chief executive officer of Levi Strauss & Co.[68]

Controversies

Gass's second half of her time as Kohl's chief executive coincided with sustained public criticism from activist investors who argued that the company's board and management were mishandling the retailer's strategy. In February 2021 a group of funds, including Macellum Advisors, Ancora Holdings, Legion Partners and 4010 Capital, together holding about 9.5 percent of the company's shares, nominated nine board candidates and publicly criticized what they called underperformance, lost market share and declining margins under the existing leadership, calling for reduced executive compensation, an inventory overhaul and consideration of a sale-leaseback of the company's real estate.[69] The board rejected the attempt, but reached a settlement in April 2021 that added two activist-nominated directors, along with a third director, to its board and increased its share buyback authorization to $2 billion.[70]

A second, larger campaign followed in January 2022, when Macellum Advisors renewed its criticism, arguing that most apparel-focused retailers had already surpassed 2019 sales levels while the company's revenue had slipped slightly against that benchmark through the first three quarters of fiscal 2021.[71] In a February 2022 regulatory filing Macellum said the company's board had "hastily reject[ed]" two expressions of acquisition interest worth $64 to $65 a share and accused the board of adopting its new shareholder rights plan in a manner structured to "chill a sale process" rather than to protect shareholders, arguing the board was "no longer operating with impartiality and objectivity" and had become "too large and too entrenched." The filing further asserted that the company had not generated same-store sales growth for a decade and had underperformed peers including Dillard's and Macy's.[72] Macellum nominated ten director candidates in an attempt to gain majority control of the board; the company dismissed the slate as "inexperienced" and "unqualified."[73] Shareholders decisively rejected Macellum's board challenge and backed Gass's incumbent board at the annual meeting on 11 May 2022, re-electing all thirteen directors.[74] Gass's own management team saw turnover during this period, with the company's chief marketing officer and chief merchandising officer both departing the day after the annual meeting.[75]

Days after the proxy victory, on 19 May 2022, the company reported disappointing first-quarter results, with revenue down to $3.7 billion from $3.8 billion a year earlier, comparable sales down 5.2 percent and operating income down roughly 70 percent; Gass told investors, "Our first-quarter results were below our expectations."[76] The subsequent collapse of exclusive acquisition talks with Franchise Group in July 2022, after the company had solicited interest from more than 25 potential buyers, drew further public criticism of the board's handling of the sale process and coincided with a sharp premarket drop of more than 15 percent in the company's shares.[77] Gass left the company for Levi Strauss & Co. roughly four months later. None of the available regulatory filings singled out Gass personally for the criticism directed at the company's board, and the record indicates the activist campaigns were aimed chiefly at the board's composition and its handling of acquisition proposals rather than at specific decisions Gass had made as chief executive.[78]

Personal life

Gass grew up in Maine in what a 2026 profile from the University of Arizona's Eller College of Management described as a hardworking family.[79]

Philanthropy

Gass serves as a director of the Levi Strauss Foundation, the independent non-profit entity that channels much of the company's philanthropic giving; the foundation is legally and financially separate from Levi Strauss & Co.'s own consolidated business.[80]

Recognition

  • 2018: Named to Fortune magazine's Businessperson of the Year list, ranked fourth, in recognition of Kohl's performance during her first year as chief executive.[81]
  • 2018: Named to Fortune magazine's Most Powerful Women list as a newcomer, ranked twenty-first.[82]
  • 2025: Delivered the undergraduate commencement address at Worcester Polytechnic Institute and received an honorary doctorate.[83]
  • 2026: Named Executive of the Year by the University of Arizona's Eller College of Management, an honor established in 1983 to recognize leadership that has driven organizational growth and industry impact.[84]

See also

References

  1. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  2. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  3. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  4. ↑ <ref>"Starbucks' Secret Weapon: Michelle Gass".Forbes.2 November 2011.Retrieved 28 September 2026.</ref>
  5. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  6. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  7. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  8. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  9. ↑ <ref>"Michelle Gass, Businessperson of the Year 2018".Fortune.Retrieved 28 September 2026.</ref>
  10. ↑ <ref>"Michelle Gass, Most Powerful Women 2018".Fortune.Retrieved 28 September 2026.</ref>
  11. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  12. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  13. ↑ <ref>"WPI Class of 2025 Encouraged to Tackle Problems, Build Communities".Worcester Polytechnic Institute.16 May 2025.Retrieved 28 September 2026.</ref>
  14. ↑ <ref>"Kohl's CEO Michelle Gass".Money Inc..Retrieved 28 September 2026.</ref>
  15. ↑ <ref>"WPI Class of 2025 Encouraged to Tackle Problems, Build Communities".Worcester Polytechnic Institute.16 May 2025.Retrieved 28 September 2026.</ref>
  16. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  17. ↑ <ref>"WPI Class of 2025 Encouraged to Tackle Problems, Build Communities".Worcester Polytechnic Institute.16 May 2025.Retrieved 28 September 2026.</ref>
  18. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  19. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  20. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  21. ↑ <ref>"Starbucks' Secret Weapon: Michelle Gass".Forbes.2 November 2011.Retrieved 28 September 2026.</ref>
  22. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  23. ↑ <ref>"Kohl's CEO Michelle Gass".Money Inc..Retrieved 28 September 2026.</ref>
  24. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  25. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  26. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  27. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  28. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  29. ↑ <ref>"Michelle Gass, Businessperson of the Year 2018".Fortune.Retrieved 28 September 2026.</ref>
  30. ↑ <ref>"Michelle Gass, Businessperson of the Year 2018".Fortune.Retrieved 28 September 2026.</ref>
  31. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  32. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  33. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  34. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  35. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  36. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  37. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  38. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  39. ↑ <ref>"Levi Strauss & Co. Reports Fourth Quarter and Fiscal 2025 Results".U.S. Securities and Exchange Commission.28 January 2026.Retrieved 28 September 2026.</ref>
  40. ↑ <ref>"Levi Strauss & Co. Reports Fourth Quarter and Fiscal 2025 Results".U.S. Securities and Exchange Commission.28 January 2026.Retrieved 28 September 2026.</ref>
  41. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  42. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  43. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  44. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  45. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  46. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  47. ↑ <ref>"Kohl's 'Greatness Agenda' Gains Momentum Under New CEO Michelle Gass".Chief Executive.Retrieved 28 September 2026.</ref>
  48. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  49. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  50. ↑ <ref>"Kohl's CEO Michelle Gass on fighting off an activist investor".Fortune.7 March 2022.Retrieved 28 September 2026.</ref>
  51. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  52. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  53. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  54. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  55. ↑ <ref>"Levi Strauss & Co. Reports Fourth Quarter and Fiscal 2025 Results".U.S. Securities and Exchange Commission.28 January 2026.Retrieved 28 September 2026.</ref>
  56. ↑ <ref>"Michelle Gass, Businessperson of the Year 2018".Fortune.Retrieved 28 September 2026.</ref>
  57. ↑ <ref>"The Latest Kohl's Activist Investor Attack Makes No Sense".The Motley Fool.22 January 2022.Retrieved 28 September 2026.</ref>
  58. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  59. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  60. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.26 March 2020.Retrieved 28 September 2026.</ref>
  61. ↑ <ref>"Kohl's Corporation Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.23 March 2023.Retrieved 28 September 2026.</ref>
  62. ↑ <ref>"Levi Strauss & Co. Reports Fourth Quarter and Fiscal 2025 Results".U.S. Securities and Exchange Commission.28 January 2026.Retrieved 28 September 2026.</ref>
  63. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  64. ↑ <ref>"PepsiCo elects Michelle Gass to board of directors".EFA News.8 March 2019.Retrieved 28 September 2026.</ref>
  65. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  66. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  67. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  68. ↑ <ref>"Active Members".The Business Council.Retrieved 28 September 2026.</ref>
  69. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  70. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  71. ↑ <ref>"The Latest Kohl's Activist Investor Attack Makes No Sense".The Motley Fool.22 January 2022.Retrieved 28 September 2026.</ref>
  72. ↑ <ref>"Macellum Advisors, Definitive Additional Proxy Soliciting Materials (Schedule DFAN14A)".U.S. Securities and Exchange Commission.11 February 2022.Retrieved 28 September 2026.</ref>
  73. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  74. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  75. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  76. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  77. ↑ <ref>"A timeline of Kohl's activist investor battle".Modern Retail.Retrieved 28 September 2026.</ref>
  78. ↑ <ref>"Macellum Advisors, Definitive Additional Proxy Soliciting Materials (Schedule DFAN14A)".U.S. Securities and Exchange Commission.11 February 2022.Retrieved 28 September 2026.</ref>
  79. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
  80. ↑ <ref>"Levi Strauss & Co. Definitive Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.11 March 2026.Retrieved 28 September 2026.</ref>
  81. ↑ <ref>"Michelle Gass, Businessperson of the Year 2018".Fortune.Retrieved 28 September 2026.</ref>
  82. ↑ <ref>"Michelle Gass, Most Powerful Women 2018".Fortune.Retrieved 28 September 2026.</ref>
  83. ↑ <ref>"WPI Class of 2025 Encouraged to Tackle Problems, Build Communities".Worcester Polytechnic Institute.16 May 2025.Retrieved 28 September 2026.</ref>
  84. ↑ <ref>"Eller College of Management Honors Michelle Gass, CEO of Levi Strauss, as 2026 Executive of the Year".University of Arizona, Eller College of Management.27 March 2026.Retrieved 28 September 2026.</ref>
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