Target is searching for a new CFO while simultaneously promoting several members of its leadership team as the retailer seeks to maintain momentum after a successful holiday season. Current CFO Cathy Smith will retire after a successor is named, but will remain with the company in an advisory role until May 2020 to ensure a smooth transition.
The wider executive shakeup aims to accelerate progress and drive efficiencies across Target. All changes are effective immediately:
- Stephanie Lundquist has been promoted from Chief Human Resources Officer to President of Food and Beverage. She will oversee all merchandising and operations for food and beverage, including strategy development and implementation, with a focus on accelerating progress and strengthening cross-functional alignment;
- Melissa Kremer has been promoted to Chief HR Officer from SVP, HR. She will lead the company’s HR operations, joining Target’s Leadership Team and reporting directly to CEO Brian Cornell;
- Katie Boylan has been promoted to Chief Communications Officer from SVP, Communications. She will have oversight of internal communication, corporate and brand communication, public affairs, and crisis and issues management;
- CIO Mike McNamara will now also lead the Enterprise Data Analytics and Business Intelligence team, which will provide data-driven counsel and expertise to enterprise business partners; and
- Rick Gomez has added the Chief Digital Officer title to his existing role of CMO. He will lead Target’s Digital team, focusing on its role in personalization, loyalty and the overall shopping experience.