Target Financial, Retail Services Head to Retire; Company Adds New Directors

Terry Scully

Terry Scully

MINNEAPOLIS-Terry Scully, president of financial and retail services for Target, will retire in March of next year.

On April 1, Scully will move into a strategic and advisory role for the transition of its financial-services operation in light of the sale of its credit-card portfolio to TD Bank Group (see separate story). He will be succeeded by Scott Kennedy, currently vice president of Target’s pay and benefits. He joined Target in 1979 and was promoted to his current post in 2003.

Target has also elected Douglas Baker and Henrique De Castro to its board of directors. Baker is chairman and CEO of Ecolab, and De Castro is chief operating officer of Yahoo!