Tag Archives: Gregg Steinhafel

Target Tabs PepsiCo’s Cornell as New Chief

Brian Cornell

MINNEAPOLIS-Target has named Brian Cornell, former CEO of PepsiCo Americas Foods, as its new chairman and CEO, succeeding Gregg Steinhafel, who left the mass merchant in May. Cornell will assume his new post on Aug. 12. According to a Target statement, his first priorities will be “accelerating the company’s performance and advancing Target’s omnichannel evolution.”More »

Target Q1 Net Falls 16 Percent

Target

MINNEAPOLIS-Target’s first quarter ended with a 16 percent drop in net income, to $418 million, as the mass merchant slowly deals with the data-breach scandal and the departures of two top-level executives. On May 5, Gregg Steinhafel resigned as chairman, president and CEO, in the wake of the hacking of credit-card information of Target customers,More »

Target Names Schindele Chief of Canada Operation

Mark Schindele

MINNEAPOLIS-Target has tabbed Mark Schindele, senior vice president of merchandising operations, president of Target Canada. Schindele is succeeding Tony Fisher, who has left the company. He reports to Kathee Tesija, chief merchandising and supply-chain officer, whose responsibilities include Target Canada. Fisher’s departure is the second high-level change at the retailer in two weeks. On MayMore »

Steinhafel Steps Down as Target Chief

Gregg Steinhafel

MINNEAPOLIS-Gregg Steinhafel, Target’s chairman, president and CEO, has resigned effective today, ending his 35-year career with the retailer. A statement from the Target board of directors, issued today, said Steinhafel and the board mutually agreed to end his tenure after “extensive discussions.” A letter written by Steinhafel to the board obtained by HFN said heMore »

DeRodes Named Target CIO

Bob DeRodes

MINNEAPOLIS-Target has appointed Bob DeRodes executive vice president and chief information officer as it continues its efforts to resolve the breach into millions of its customers’ credit-card information, which occurred during the holiday shopping season. When DeRodes assumes his new post on May 5, he will be responsible for the retailer’s technology team and operations,More »

Jacob, Target CIO, Resigns

Beth Jacob

MINNEAPOLIS-In the wake of the company’s efforts to resolve the breach into millions of customers’ credit-card information, Beth Jacob, Target’s executive vice president of technology services and chief information officer, has resigned, effective yesterday. A statement sent by the retailer to HFN, from Gregg Steinhafel, chairman, president and CEO, said Target will begin an externalMore »

Target Q3 Net Drops 46.5 Percent

Target

MINNEAPOLIS-Increased costs and reduced margins slammed Target’s bottom line in its third quarter. Net income was down 46.5 percent, to $341 million, in the quarter which ended on Nov. 2. Selling, general and administrative expenses were up 4 percent in dollars, although as a percentage of sales they were essentially flat with last year’s thirdMore »

Target Net Drops 13.2 Percent in Q2

Target

MINNEAPOLIS-Sales that were less than expected and reduced margins sliced Target’s second-quarter net income down 13.2 percent, to $611 million. Net sales in the quarter, which ended on Aug. 3, rose 4 percent to $17.1 billion, including a 1.2 percent gain in U.S. same-store sales. Gross margin registered 31.4 percent, down 129 basis points fromMore »