Target's Operations Chief to Retire -- Update
October 17 2023 - 9:07AM
Dow Jones News
By Dean Seal
John Mulligan, Target's first chief operating officer, plans to
step down in February and formally retire from the retailer a year
later.
Target said in a securities filing Tuesday that Mulligan has
provided notice of his intention to leave the C-suite this coming
February.
At that time, he is expected to transition into a strategic
adviser role and serve as a non-executive officer until February
2025.
The material terms of Mulligan's strategic adviser agreement
will be disclosed once they are finalized, Target said.
Mulligan was serving as Target's chief financial officer when he
was promoted in 2015 to the then-newly created role of chief
operating officer as part of an overhaul of Target's executive
team. He had served briefly as interim CEO in 2014 before Chief
Executive Brian Cornell joined the company.
The COO's impending departure wasn't the only transition
announced Tuesday. Target said Laysha Ward, executive vice
president and chief external engagement officer, has also shared
plans to retire and will transition into a strategic adviser role
through April 2024.
The retailer also said it has appointed Matt Zabel to be its
chief corporate affairs officer and promoted Kiera Fernandez to
chief community impact and equity officer.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 17, 2023 08:52 ET (12:52 GMT)
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