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Target Corporation Announces Multi-Year Enterprise Acceleration Office

1. Target established an Enterprise Acceleration Office to improve operational speed. 2. Brian Cornell emphasizes adaptability and innovation in Target's growth strategy. 3. Changes in leadership may enhance collaboration and strategic alignment. 4. Key executives are reassigned to streamline functions and capabilities. 5. Departures of leadership reflect a strategic shift for future growth.

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Why Bullish?

The establishment of the Enterprise Acceleration Office suggests a proactive approach to growth. Similar initiatives previously led to increased operational efficiency and market confidence.

How important is it?

The article discusses significant leadership changes and strategic initiatives directly related to Target's growth, making it quite impactful.

Why Long Term?

The structural changes and strategic focus are expected to benefit TGT over the long term, aligning with growth objectives and market demands.

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, /PRNewswire/ -- Target Corporation (NYSE: TGT) announced today it has established a multi-year Enterprise Acceleration Office to drive even greater speed and agility across the company, positioning Target to deliver faster progress on its roadmap for growth. Michael Fiddelke, chief operating officer, will oversee this effort to improve how functions work together to advance key priorities, ranging from simplifying cross-company processes to using technology and data in new ways to power the team. "The Enterprise Acceleration Office represents a strategic commitment to operating more nimbly across the organization, creating conditions for speed, adaptability, innovation and resilience. It goes beyond improving efficiency to build operational muscles that clear the way for our talented team to deliver for our guests while accelerating our performance and growth," said Brian Cornell, chair and chief executive officer. "This effort is a natural extension of our roadmap for growth, and the work will benefit greatly from Michael's leadership and his track record of simplifying complexity and championing cross-functional collaboration." In addition to establishing the Enterprise Acceleration Office, the company shared a number of changes across its executive leadership team to more closely align key capabilities that will support further speed and connection across the organization.  Prat Vemana, chief information and product officer, will report directly to Brian Cornell and take on leadership of the Target in India global capability center. Jim Lee, chief financial officer, will take on leadership of Target's enterprise strategy and partnerships. Rick Gomez, chief commercial officer, will oversee Target's enterprise insights team. With these changes, Christina Hennington, chief strategy and growth officer, will depart Target and move into a strategic advisor role through Sept. 7, 2025. "During her time with Target, Christina applied her merchant's eye and strategic mindset to grow our multicategory commercial business by billions of dollars, and we are grateful for her leadership, vision and impact," said Cornell. Target also announced the departure of Amy Tu, chief legal and compliance officer. In the near term, Melissa Kremer, chief human resources officer, will oversee the function while the company conducts a comprehensive external search. Miscellaneous Statements in this release regarding the company's long-term goals, strategy and future financial and operational performance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which could cause the company's results to differ materially. The most important risks and uncertainties are described in Item 1A of the company's Form 10-K for the fiscal year ended February 1, 2025. Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update any forward-looking statement. About Target Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center. SOURCE Target Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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