Tar­get pro­motes CFO Mul­li­gan to newly cre­ated COO role

The Pak Banker - - COMPANIES/BOSS -

BEN­GALURU: Tar­get Corp pro­moted Chief Fi­nan­cial Of­fi­cer John Mul­li­gan to the newly cre­ated role of chief op­er­at­ing of­fi­cer, and ap­pointed Ex­press Scripts Hold­ing Co's CFO, Cathy Smith, as his re­place­ment.

The moves are the latest man­age­ment changes an­nounced by the com­pany un­der new CEO Brian Cor­nell, who took over last Au­gust, as it re­struc­tures and fo­cuses on fewer prod­ucts. Tar­get has said it will cut sev­eral thou­sand cor­po­rate jobs, re­vamp gro­cery oper­a­tions and in­vest in tech­nol­ogy and sup­ply chain. Mul­li­gan, who has been CFO since 2012, would as­sume over­sight of stores, sup­ply chain and prop­er­ties start­ing Sep. 1, the com­pany said. Mul­li­gan also did a four-month stint as Tar­get's in­terim CEO in 2014, af­ter Gregg Stein­hafel stepped down fol­low­ing a mas­sive data breach in 2013 that led to the theft of tens of mil­lions of card num­bers and hit sales for sev­eral quar­ters.

Smith, who will join on Sep. 1, has pre­vi­ously served as CFO of Wal-Mart Stores Inc's in­ter­na­tional di­vi­sion. Tar­get is also fo­cus­ing on cer­tain higher-mar­gin "sig­na­ture cat­e­gories," which in­clude ap­parel, well­ness prod­ucts and chil­dren's items. The com­pany in April named gro­cery re­tail vet­eran Anne Da­ment as se­nior vice pres­i­dent of mer­chan­dis­ing, while mov­ing chief mer­chan­dis­ing and sup­ply chain of­fi­cer Kathee Te­sija to an ad­vi­sory role in June.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.