Target Revamps C-Suite
Target will start the second half of 2024 with familiar faces in new places as the retailer is making changes to its executive team that include new roles for Christina Hennington and Rick Gomez.
Effective July 7, Hennington — currently chief growth officer — will take the position of chief strategy and growth officer. Gomez — currently chief food, essentials, and beauty officer — will be the retailer’s chief commercial officer overseeing Target’s merchandising business.
Additionally, Lisa Roath, Target's chief marketing officer, will take on the role of chief merchandising officer of food, essentials, and beauty in early 2025. The retailer is initiating an external search for its next chief marketing officer. Until a successor is named, Roath will remain in full capacity as chief marketing officer.
"As we execute our 2024 plans and look to the future, we're putting key leaders and capabilities in place to sustain profitable growth over the long term,” said Brian Cornell, chair and CEO. “Today's announcement builds on our January appointment of Michael Fiddelke to chief operating officer and will further accelerate progress on our growth initiatives. As Rick takes on full oversight of merchandising, Christina will be dedicated to keeping our strategy consumer-centric, differentiated, and future-focused. Lisa will be an important addition to Rick's leadership team when she moves into her new role in 2025, bringing her prior experience and accomplishments leading our food and essentials businesses."
The leadership changes come weeks after Target reported a soft first quarter, with overall sales down 3.1% and comparable store sales down 3.7%. Additionally, in May, the retailer announced price cuts and some 5,000 items across the store.
"We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more," Gomez said when the price cuts were announced. "Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs."
As chief strategy and growth officer, Hennington will with Cornell, Fiddelke, and the rest of Target's leadership team to build on the retailer's roadmap for growth, ensuring the strategy remains relevant and differentiated as the company plans into its next growth horizon, the retailer said.
Hennington and her team also will support the organization as it continues to evolve and modernize how it operates, including harnessing the role of technology and generative AI to enhance the working and shopping experience at Target. Additionally, she will be responsible for further strengthening relationships with Target's strategic partners and identifying new partnerships that will differentiate and drive the retailer's business. Hennington will continue to report to Cornell.
As chief commercial officer, Gomez will have full oversight of Target's merchandising business, including its apparel and accessories, home, hardlines, food, essentials, and beauty product categories, owned brand sourcing and design, and merchandising planning and capabilities.
Gomez will report to Cornell.
Early next year, Roath will take on the role of the retailer's chief merchandising officer of food, essentials, and beauty. In that role, Roath will report to Gomez. Until that time, Roath will remain in full capacity as Target's chief marketing officer and will continue to report to Cara Sylvester, Target's chief guest experience officer.
