Target Promotes Mulligan To COO, Names New CFO

Target Corporation has promoted John Mulligan to the newly created role of executive vice president and chief operating officer, effective September 1. Mulligan will assume oversight of stores, supply chain and properties.

In addition, joining Target as evp/chief financial officer will be Cathy Smith. Both Mulligan and Smith will report to Target’s chairman and chief executive officer, Brian Cornell.

Mulligan has worked at Target 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. Throughout his tenure at Target, Mulligan has served in key leadership positions in finance and human resources, including director of Target.com finance, director of capital investments, vp/pay and benefits, vp/financial planning and analysis and svp/treasury and accounting.

Prior to joining Target, Smith served as evp/CFO at St. Louis-based Express Scripts, one of the nation’s largest pharmacy benefit manager with $100 billion in revenue. She has also held CFO positions at Walmart International, GameStop, and others.

Smith will formally join the company on September 1. As CFO at Target, Smith’s responsibilities will include treasury and tax; internal and external financial reporting and operations; financial planning and analysis; internal audit; investor relations; and the financial and retail services business.

“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,” said Cornell. “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.”