Kohl’sThe retailer was under increasing pressure to overhaul its board of directors and shareholders approved the re-election.

Macellum Advisors was the activist company that hosted the shareholders meeting. has been pushing for Kohl’s to revamp its slate of directorsArgumenting that the company’s performance in recent years has fallen behind other retailers, Macellum argued that Kohl’s Chief Executive Officer Michelle Gass’s initiatives, including teaming up and patterning with Sephora to be beauty retailer, were a result of her efforts. AmazonHaven’t done enough to implement a return program.

Macellum appointed 10 directors in February. This included its Chief Executive Officer Jonathan Duskin. He has been pushing Kohl’s to be sold and some of its real property to lease back for additional capital.

Kohl’s was resistant to these sale-leaseback transactions. However, the retailer did call Goldman Sachs bankers to review bids. Kohl’s confirmed in March that it had received multiple preliminary buyout offersStarboard-backed Acacia Research rejected a $64 share offer. that was deemed to be too low. 

Kohl’s shares ended Tuesday closing at $49.39 compared to a 52-week peak of $64.80. In early trading Wednesday, the stock fell more than 1%.

Major proxy advisory firms split their recommendations ahead of Wednesday’s vote. Institutional Shareholder Services or ISS backed Macellum. Glass Lewis maintained that Kohl’s current board would best serve shareholders.

Macellum doesn’t just put the pressure on Kohls’ this time around. Both struck a deal in April of 2021 to add two directorsA slate was drafted by a group that included Macellum and other activists. Kohl also appointed one independent director. This was done with the support of activists.

Kohl’s will report first quarter results on Thursday.

This is a developing story. Keep checking back for more updates.