DECLUTTER. Kohl’s wants to sharpen up its look; some of its shareholders are calling for a whole new wardrobe. Funds led by Macellum Advisors have proposed nine new directors for the U.S. department store operator’s board, along with other operational changes. While the company rejected the new directors, it at least knows it needs a refresh, which suggests room for compromise. The $8 billion chain’s sales have stagnated – even by 2022 they’ll be below where they were in 2019, according to Refinitiv estimates. Shareholders of Kohl’s have lost roughly 8% over the past three years, factoring in dividends, but would’ve gained more than 80% with TJ Maxx owner TJX and over 50% with the S&P 500 Index. That underperformance makes Chief Executive Michelle Gass’s current plan less credible. Replacing the board might be excessive. Kohl’s recently added new directors, with experience spanning grocery and hospitality, as well as retail. But while the average tenure is eight years, two – Frank Sica and Steven Burd – have been there since 1988 and 2001. Inviting the investor group to suggest something fresher would be a good way to start a more harmonious cleanup. (By Amanda Gomez) BREAKINGVIEWS Reuters Breakingviews is the world"s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.