Chandra Holt is embroiled in a corporate scandal involving her former romantic partner, Ashley Buchanan, who was recently fired as CEO of Cole amid accusations of a vendor contract tainted by a “private conflict of interest.” Buchanan allegedly directed Cole to enter a multi-million dollar agreement with questionable terms, as noted in a U.S. Securities and Exchange Commission filing.
Holt, who has known Buchanan for a decade and is the founder of a vitamin-infused coffee brand, denied any wrongdoing on her part. Both executives previously worked at Walmart before moving to other companies, with Holt holding notable positions at Target, Sam’s Club, and Walgreens.
Buchanan’s termination comes during a challenging time for Cole, which reported a revenue drop and plans to close underperforming stores. Although the company stated his firing wasn’t linked to financial issues, it raises questions about leadership stability, as he was the third CEO in a short period.
While no formal allegations have been made against Holt, her association with Buchanan may complicate her career moving forward, as she navigates the potential fallout from this scandal.
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