Target CEO shuffles leadership team as his first big move after taking over

Core Insights - Target CEO Michael Fiddelke is reshuffling the leadership team shortly after taking over, indicating a strategic shift to address operational struggles [1] - The changes include the departure of Rick Gomez and retirement of Jill Sando, with Lisa Roath becoming the new COO and Cara Sylvester taking over as chief merchandising officer [1] - Fiddelke emphasizes the need for speed in executing priorities to drive growth within the business [1] Leadership Changes - Rick Gomez, who managed inventory, will leave the company, while Jill Sando, chief merchandising officer since 1997, will retire [1] - Lisa Roath, previously overseeing food and essentials, will assume the role of COO [1] - Cara Sylvester, formerly chief guest experience officer, will become the chief merchandising officer [1] Operational Adjustments - Target is increasing investment in store staffing while eliminating approximately 500 jobs at distribution centers and regional offices [1] - The job cuts represent a small fraction of Target's total workforce, which exceeds 400,000 employees [1] - The leadership changes and staffing adjustments are part of a broader strategy to enhance operational efficiency and drive growth [1]