Target promotes Gretchen McCarthy
Brian Cornell has committed to remain as CEO and lead Target Corporation for approximately three more years.
Additionally, the company has announced that Arthur Valdez, executive vice president and chief supply chain and logistics officer, will retire from Target. He will be succeeded by Gretchen McCarthy, senior vice president, global inventory management, effective immediately.
With Cornell’s commitment, Target’s board of directors eliminated its retirement policy, which was designed to initiate a discussion regarding the possible retirement of its CEO at the age of 65.
McCarthy, an 18-year Target veteran, has held numerous leadership positions in the company. She brings a deep understanding of Target’s business operations, with experience spanning supply chain transformation, merchandise planning and buying. (cj)