MILWAUKEE— With the future of Menomonee Falls-based Kohl's still up in the air, its current board on Wednesday was able to celebrate a win when shareholders voted to reelect all 13 of them, though that win could still be short lived.

"I think Kohl's is not necessarily out of the woods yet, but it's definitely a vote of confidence for the current management structure," UW Whitewater professor Jeffrey Hahn said. "It's tough to say the war's won by Kohl's but it's definitely a victory for them to try and restructure the way they're doing business."

The move by Macellum Advisors to try and seat up to 10 nominees on the board failed, but with other offers to buy the company on the table and more reported to be in the works, the retailer's future Wednesday remained anything but settled.

"It takes a little pressure off the current board and current management to accept any of those buyouts," Professor Hahn added. "I think they have to look at each of them in due course and decide the right way to go for them, but it definitely takes the pressure off the current management structure that any of these would have to be accepted."

You can watch the entire interview above.