Target reshuffles executive team as new CEO moves to spur growth

Group 1 - Target has announced senior management changes under new CEO Michael Fiddelke, effective February 15, which includes new executive vice presidents reporting directly to the CEO [1] - Cara Sylvester will become chief merchandising officer, while Lisa Roath will take on the role of chief operating officer, with Rick Gomez exiting the company and Jill Sando retiring [2] - The leadership changes aim to enhance merchandising oversight and improve the guest experience, with a focus on style, design, speed, efficiency, and execution [3] Group 2 - Target has reaffirmed its financial guidance, expecting Q4 2025 sales and full-year EPS and adjusted EPS to align with earlier forecasts [4] - CEO Fiddelke emphasized that these changes are part of a new chapter for Target, aimed at driving growth and simplifying the organizational structure [5] - The company plans to eliminate 500 positions across corporate, regional, and supply chain teams to redirect resources towards store operations and frontline staff, in response to margin pressures and changing customer demands [6]