Target CEO reshapes his leadership team in first big move since taking over this month

Core Insights - Target is undergoing significant leadership changes under new CEO Michael Fiddelke, who aims to revitalize the company after operational struggles [1][4] - The company is focusing on enhancing its operational speed and addressing priorities to drive growth [2] Leadership Changes - Rick Gomez, a 23-year veteran overseeing inventory, will leave the company, while Jill Sando, chief merchandising officer since 1997, will retire [1] - Lisa Roath will assume the role of chief operating officer, and Cara Sylvester will become the chief merchandising officer [2] - Gomez and Sando will assist with the transition for a short period, with changes effective immediately [3] Operational Adjustments - Target is reiterating its profit guidance while increasing investment in store staffing, despite eliminating around 500 jobs at distribution centers and regional offices [3] - The leadership reshuffle is seen as a necessary step to address declining sales and customer complaints regarding store conditions [4] Market Challenges - Target has faced difficulties as consumer spending has decreased, leading to complaints about store organization and a loss of its budget-friendly image [4] - The company has also dealt with backlash from consumer boycotts related to its corporate diversity initiatives and responses to local social issues [5]