Target names new COO, appoints former Express Scripts exec CFO

MINNEAPOLIS — Target continued to make moves across its executive team Monday morning, with the promotion of an almost 20-year Target veteran to COO and the hiring of a former Express Scripts CFO. 

 

John Mulligan was named to the newly created role of EVP and COO, effective Sept. 1, when he will assume oversight of stores, supply chain and properties. Additionally, seasoned retail business leader Cathy Smith will be joining Target as EVP and CFO. Both Mulligan and Smith will report to Target’s chairman and CEO, Brian Cornell.

 

“John has unparalleled expertise in Target’s business and I am very pleased that he will be assuming this new leadership position. Bringing together key operations functions under John will put Target on a more progressive path to transformation and help us break down barriers to deliver improvements across our business,” Cornell said. “As our new CFO, Cathy brings significant business and retail expertise to Target. Her background will be integral to accelerating our long-term growth strategy.”

 

Mulligan has worked at the Minneapolis-based company since 1996, when he began as a financial analyst. He has served as the company’s CFO since 2012. In 2014, he led the company as the retailer’s interim president and CEO from May to August while continuing to act as CFO. 

 

“Integrating operations will help further fuel Target’s transformation and as COO, I’ll prioritize driving improvements in the fundamental areas of our business and equipping the team to move quickly," Mulligan said. "By working strategically across the enterprise, we will build on the critical capabilities that will fuel Target’s differentiation in the marketplace."

 

The company will report its second quarter financial results on Aug. 19 and host a conference call with investors featuring the new trio of Cornell, Mulligan and Smith. 

 

Prior to joining Target, Smith served as EVP and CFO at the pharmacy benefit manager Express Scripts. She has also held CFO positions at Walmart International, GameStop and others. 

 

Smith received her BA from the University of California, Santa Barbara and her MBA from the University of Southern California. 

 

On Friday, Drug Store News learned Target is in search of a new chief merchant following the departure of Jose Barra, EVP merchandising at Target.