Target Corp. has rearranged the chairs in its C-suite, moving two top executives into newly created roles as the Minneapolis-based retailer tries to get back on the path to sales growth.
Target makes C-suite changes to support ‘profitable growth over the long term’
Christina Hennington, Rick Gomez both receive promotions as the Minneapolis-based retailer tries to move toward sales growth.
The Minnesota Star Tribune
June 25, 2024 at 2:19PM
Christina Hennington, Target’s first chief growth officer, will become chief strategy and growth officer, the retailer announced Tuesday. Rick Gomez will become chief commercial officer. Both roles are new and are effective July 7.
In early 2025, Lisa Roath, Target’s chief marketing officer, will take on Gomez’s position as chief merchandising officer of food, essentials and beauty.
“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 Target CEO Brian Cornell in a statement. “Today’s announcement builds on our January appointment of Michael Fiddelke to chief operating officer and will further accelerate progress on our growth initiatives.”
In her new role, Hennington will work closely with Cornell, Fiddelke and other Target leaders to ensure the company’s strategy remains “relevant and differentiated.” Hennington also will support the organization as it modernizes its operations, including as it uses generative artificial intelligence such as Target’s recent announcement of an AI tool for its store employees. In addition, Hennington will be responsible for strengthening and creating relationships with strategic partners.
In his position as chief commercial officer, Gomez will oversee all of Target’s merchandising from apparel, adding apparel and accessories, home and electronics to the food and beauty he already oversees. In addition, he will be responsible for owned brand sourcing and design and merchandising planning and capabilities.
Both Hennington and Gomez had been in their positions since 2021, after being with Target for years. Roath will remain chief marketing officer until the company completes an external search for her successor.
Target’s changes come as the retailer tries to reverse its sales declines as it faces a more choosy consumer and heightened competition from discount retailers like Walmart. In February, March and April, Target’s same-store sales were down 3.7%, making it a full year that the retailer has seen sales declines.
For the remainder of 2024, Target executives expect to have flat to 2% sales growth.
On Tuesday, Target also announced the return of its Target Circle Week of deals, which will occur July 7-13.
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