Kohl's (NYSE: KSS) CEO Michelle Gass is out, and shareholders couldn't be happier.

That's the takeaway from last week's volatile action anyway. The company announced on Tuesday that Gass would be stepping down as chief executive early next month, sparking an 18% rally from the stock. Her exit presents an opportunity for the struggling department store chain to bring in fresh leadership and new ideas.

It's arguable, however, that Kohl's woes are going to persist no matter who's at the helm. The apparel industry is changing in a way that disfavors the business, and department stores are bearing the brunt of this shift.

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Source Fool.com