Target Corporation Announces Multi-Year Enterprise Acceleration Office

Rhea-AI Summary

Target Corporation (NYSE: TGT) has announced the establishment of a new Enterprise Acceleration Office aimed at enhancing operational speed and agility. COO Michael Fiddelke will lead this initiative to streamline cross-company processes and leverage technology. The company also announced several executive changes: Prat Vemana (Chief Information Officer) will report directly to CEO Brian Cornell and lead Target India; Jim Lee (CFO) will oversee enterprise strategy; and Rick Gomez (CCO) will lead enterprise insights. Notable departures include Christina Hennington (Chief Strategy Officer), who will transition to an advisory role until September 2025, and Amy Tu (Chief Legal Officer), with an external search planned for her replacement.

Positive

• Creation of Enterprise Acceleration Office to improve operational efficiency and drive growth
• Strategic realignment of executive roles to enhance cross-functional collaboration
• Strengthening of technology and data capabilities through organizational restructuring

Negative

• Departure of two key executives (Chief Strategy Officer and Chief Legal Officer)
• Potential disruption during leadership transition period
• Temporary gap in legal leadership requiring external search

Insights

Corporate Strategy Analyst

Target's new Enterprise Acceleration Office signals a structural overhaul to drive efficiency, though executive departures raise execution questions during implementation.

Target's newly established Enterprise Acceleration Office represents a significant organizational restructuring aimed at improving operational agility. This isn't merely about incremental efficiency gains—it's a structural transformation designed to reorient how the entire organization executes across functions. The initiative will focus on simplifying cross-company processes and enhancing technology utilization, suggesting Target may be addressing internal complexity barriers hampering growth.

The leadership realignment complements this restructuring with three critical shifts: elevating the technology leader (Prat Vemana) to report directly to the CEO, expanding the CFO's role to include strategy, and consolidating insights under commercial operations. These changes point toward centralizing decision-making power around technology, finance, and commercial operations—likely areas identified as friction points.

However, the simultaneous departure of the Chief Strategy and Growth Officer and Chief Legal and Compliance Officer during this transformation raises execution questions. Christina Hennington, who reportedly grew Target's commercial business by "billions," leaves a significant capability gap. Having her transition to an advisor role until September provides some continuity, but the company faces heightened execution risk during this period of significant organizational change.

The initiative signals Target's recognition that its current operational structure is insufficient to deliver against growth objectives, making this restructuring both a defensive response to existing challenges and a proactive attempt to position for future growth opportunities. The focus on "speed," mentioned repeatedly throughout the announcement, indicates Target is battling organizational inertia that has likely slowed innovation and market responsiveness.

MINNEAPOLIS, May 21, 2025 /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.

 

 

 

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SOURCE Target Corporation

FAQ

What is Target's (TGT) new Enterprise Acceleration Office?

Target's Enterprise Acceleration Office is a new initiative led by COO Michael Fiddelke to improve operational speed and agility, streamline cross-company processes, and enhance technology and data usage across the organization.

Who are the key executives leaving Target (TGT) in 2025?

Christina Hennington (Chief Strategy Officer) will transition to an advisory role until September 2025, and Amy Tu (Chief Legal Officer) is departing the company.

What executive changes has Target (TGT) announced in May 2025?

Target announced that Prat Vemana will report to CEO Brian Cornell and lead Target India, Jim Lee will oversee enterprise strategy, and Rick Gomez will lead enterprise insights.

Who will lead Target's legal department after Amy Tu's departure?

Melissa Kremer, Chief Human Resources Officer, will temporarily oversee the legal function while Target conducts an external search for a new Chief Legal Officer.