Target Reshuffles C-Suite, Elevates Key Leaders to Drive Continued Growth

In a strategic move to bolster its leadership team, Target Corporation has announced a series of executive changes that aim to propel the retail giant's growth initiatives. The Minneapolis-based company has named a new chief merchant to oversee its food business, while also promoting key executives to expanded roles, signaling its commitment to sustaining profitable growth in the long term.

Unlocking Target's Culinary Potential with a Seasoned Merchant

Target has tapped Lisa Roath, its current Chief Marketing Officer, to take on the role of Chief Merchandising Officer for food, essentials, and beauty, effective early 2025. This appointment comes as Rick Gomez, the current Chief Food and Beverage Officer, is being promoted to the position of Chief Commercial Officer, overseeing all of Target's merchandising.

Leveraging Roath's Expertise to Elevate the Food Business

Lisa Roath's transition to the Chief Merchandising Officer role will bring a wealth of experience to Target's food business. Roath previously served as the Senior Vice President of Food and Beverage Merchandising, where she oversaw all buying for the grocery business and led the company's rapid digital expansion in this category. Her deep understanding of the food and beverage landscape, coupled with her proven track record in driving growth, positions her well to take the reins of this crucial segment.

Gomez's Expanded Role to Streamline Merchandising Efforts

As the new Chief Commercial Officer, Rick Gomez will be responsible for leading the merchandising across Target's diverse product categories, including apparel, accessories, home, hardlines, food, essentials, and beauty. This move aligns with the company's strategy to consolidate its merchandising efforts under a single executive, allowing for greater coordination and optimization of its product offerings.

Hennington's Expanded Responsibilities to Sharpen Strategic Focus

Alongside these changes, Christina Hennington, Target's Chief Growth Officer, will take on an expanded role as the Chief Strategy and Growth Officer. This new position will task Hennington with ensuring that the company's strategy remains consumer-centric, differentiated, and future-focused, further strengthening Target's ability to adapt to evolving market dynamics and customer preferences.

Strengthening the Marketing Foundation

As Lisa Roath transitions to her new role, Target will launch an external search for a new Chief Marketing Officer. This move underscores the company's commitment to maintaining a strong marketing foundation, which has been instrumental in shaping its brand and driving customer engagement.

Driving Profitable Growth through Strategic Realignment

These executive changes are part of Target's broader efforts to position the company for sustained profitable growth. By aligning key leaders and capabilities, the retailer aims to accelerate progress on its growth initiatives and solidify its position as a leading destination for food, essentials, and beauty products.

Capitalizing on the Food and Beverage Opportunity

Food and beverages have become an increasingly important component of Target's business, accounting for 23% of the company's fiscal 2023 sales, up from 21% in the previous year. The promotion of Gomez to Chief Commercial Officer and the appointment of Roath to oversee the food, essentials, and beauty categories underscore the strategic importance of this segment to Target's overall growth strategy.

Fostering a Consumer-Centric, Differentiated Approach

The expanded role of Christina Hennington as Chief Strategy and Growth Officer reflects Target's commitment to maintaining a consumer-centric, differentiated, and future-focused approach. By dedicating a senior executive to this critical function, the company aims to ensure that its strategic direction remains aligned with evolving customer needs and market trends, positioning it for long-term success.

Investing in Talent and Capabilities

The executive changes announced by Target demonstrate the company's dedication to investing in its leadership team and building the necessary capabilities to drive continued growth. By elevating seasoned executives like Gomez and Roath, and empowering Hennington to sharpen the company's strategic focus, Target is positioning itself to capitalize on emerging opportunities and navigate the dynamic retail landscape.