Target’s chief merchandising and supply chain officer to leave post on July 6
On Thursday, Target said that Kathryn Tesija, company's chief merchandising and supply chain officer, will move temporarily to a strategic adviser role on July 6 and is planning to leave in the company April 2016.
Ms. Tesija joined the company in 1986 and was promoted to chief merchandising officer in 2008. New CEO Brian Cornell said that he and Ms. Tesija had many discussions about the business over the last several months. He mentioned that both of them have decided that it is the right time for her to switch to an advisory role.
Cornell joined the company last August and is a former PepsiCo and Wal-Mart executive. This new move indicates how serious he is in reclaiming the position of Target as a cheap chic retailer to make it more agile. The company faced uneven sales growth since the Great Recession.
Cornell said, "During Kathee's nearly 30-year career at Target, she has earned a reputation as an outstanding merchant and business leader who has been instrumental in Target's growth and our recent efforts to regain our momentum".
In a filing with the Securities and Exchange Commission Thursday, the company said that Tesija will continue to receive her current base salary through April 1, 2016.
According to the company's spokeswoman Dustee Jenkins, Target will consider both internal and external candidates to search for her replacement and has hired global recruiting firm Spencer Stuart.
Target is emphasizing areas like fashion, children's products and home furnishings and is also bringing more organic, natural, gluten-free and locally produced food into its grocery sections. Last week, Cornell announced to sell the company's pharmacy and clinic businesses to drugstore chain CVS Health for about $1.9 billion.
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