Target says CFO Cathy Smith to retire from company
Target Corporation announced that CFO Cathy Smith will be retiring from the company. Smith will continue in her role as CFO until her successor is named, and then move to an advisory role until May 2020 to ensure a smooth transition. Target is conducting a comprehensive internal and external search for its next CFO and a search firm has been retained to assist in the process. In addition, Target is announcing a series of changes to its Leadership Team to accelerate progress and drive efficiencies. All changes are effective immediately. Stephanie Lundquist, who has served as Target's Chief HR Officer since 2016, has been named President of Food and Beverage. In a new role for the Company, Lundquist will oversee the full spectrum of all merchandising and operations for Food and Beverage, including strategy development and implementation. Melissa Kremer, Senior Vice President HR, has been promoted to Target's Chief HR Officer, taking on leadership of the enterprise-wide human resources strategy for Target's 350,000 team members globally. Katie Boylan, Senior Vice President, Communications, has been named Chief Communications Officer, with oversight of internal communication, corporate and brand communication, public affairs and crisis and issues management. Mike McNamara, Target's Chief Information Officer, will now lead the Enterprise Data Analytics and Business Intelligence team, in addition to his leadership of Target's Technology Services. Chief Marketing Officer, Rick Gomez, has been named Chief Marketing and Digital Officer and will now lead Target's Digital team, focusing on its important role in personalization, loyalty and the overall shopping experience.