Target CEO reshapes leadership team in first big move since taking over
NEW YORK -- Target CEO Michael Fiddelke is reshuffling his leadership team and making other changes shortly after stepping into the top job at the retailer that has struggled operationally.Rick Gomez, the 23-year Target veteran who oversees the chain's vast inventory of merchandise, will leave the company.
And Jill Sando, the chief merchandising officer overseeing a handful of categories like apparel and home and who has been with the company since 1997, will retire.Lisa Roath, who oversaw food, essentials and cosmetics, will take Fiddelke's previous job as chief operating officer, the company said Tuesday.
Cara Sylvester, who had been chief guest experience officer, will become the company's chief merchandising officer.The changes will allow Target to move with greater speed, Fiddelke said.
“It’s the start of a new chapter for Target, and we’re moving quickly to take action against our priorities that will drive growth within our business,” Fiddelke said in a release.Gomez and Sando will remain with the company for a short time to help with the transition, but the changes become effective Sunday.Also on Tuesday, the company reiterated its profit guidance.
It is also increasing investment in store staffing at stores while eliminating about 500 jobs at distribution centers and regional offices, according to a memo sent to employees that Target shared with The Associated Press.Popular ReadsWhat's driving stock market turbulence? Experts weigh inFeb 9, 4:08 PMFrench artist finds happiness drawing spectators at his 17th Olympics in CortinaFeb 10, 6:38 AMSeahawks stars Sam Darnold, Kenneth Walker III speak out after Super Bowl winFeb 9, 8:55 PMIt is the first substantial change under Fiddelke, a 20-year company veteran who took over for Brian Cornell this month.The company's decision to choose an insider surprised many industry analysts who believe the company needs new ideas as it tries to revive sales.
Target has struggled to find its footing as many Ameri...