Target names new COO as CCO steps down

Target Corporation announced senior leadership changes.

Rhea-AI Filing Summary

Target Corporation announced senior leadership changes. Effective February 15, 2026, longtime executive Lisa Roath will become Executive Vice President and Chief Operating Officer, with an annual base salary of $775,000. She will remain eligible for leadership-level bonuses, stock-based awards under the 2020 Long-Term Incentive Plan, and standard executive benefits.

Also effective February 15, 2026, Rick Gomez will step down as Executive Vice President and Chief Commercial Officer and move into an advisor role as a non-executive officer until April 17, 2026. During this transition, he will keep his current base salary and target bonus opportunity. He is expected to depart on April 17, 2026 under circumstances that qualify him for severance under Target’s Income Continuation Plan and partial vesting of his long-term incentive awards.

Insights

Corporate governance and large-cap retail analyst

Target reshuffles top leadership, promoting an internal executive and managing a planned commercial chief exit.

Target is elevating Lisa Roath, a 20-year company veteran with recent merchandising and marketing leadership roles, to Executive Vice President and Chief Operating Officer effective February 15, 2026, with an annual base salary of $775,000. Her background across food, essentials, beauty, and marketing suggests continuity in merchandising and brand strategy, while formalizing her operational remit.

Rick Gomez will leave the Executive Vice President and Chief Commercial Officer role on the same date, shifting to an advisor position until April 17, 2026. He will maintain his current base salary and target bonus during the transition and is expected to receive severance and partial long-term incentive vesting under existing plans. The structured, pre-agreed timeline points to an orderly transition rather than an abrupt change, with future filings likely giving more insight into any strategic impact.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive leadership change did Target (TGT) announce in this 8-K?

Target promoted Lisa Roath to Executive Vice President and Chief Operating Officer, effective February 15, 2026. She has held senior merchandising and marketing roles since 2020, giving her deep experience across food, essentials, beauty, and brand management within the company.

What is Lisa Roath’s compensation in her new COO role at Target (TGT)?

Lisa Roath will receive an annual base salary of $775,000 as Chief Operating Officer. She will also remain eligible for the leadership team’s target bonus opportunity, stock-based awards under Target’s 2020 Long-Term Incentive Plan, and other standard executive benefits.

What is happening with Target (TGT) Executive Vice President and Chief Commercial Officer Rick Gomez?

Rick Gomez will step down as Executive Vice President and Chief Commercial Officer effective February 15, 2026. He will then serve as an advisor and non-executive officer until April 17, 2026 under a transition agreement with Target.

Will Rick Gomez receive severance when he leaves Target (TGT)?

Rick Gomez is expected to depart Target on April 17, 2026 under circumstances qualifying him for severance. The severance will be provided under Target’s Income Continuation Plan, reflecting an involuntary termination without cause, along with vesting of a portion of his long-term incentives.

How will Rick Gomez be compensated during his transition period at Target (TGT)?

During the transition, Rick Gomez will keep his current base salary and target bonus opportunity. He will serve as an advisor and non-executive officer from February 15, 2026 through April 17, 2026 under a formal agreement with Target.

What prior roles did new Target COO Lisa Roath hold before this promotion?

Lisa Roath previously served as Executive Vice President and Chief Merchandising Officer of Food, Essentials & Beauty. Before that, she was Executive Vice President and Chief Marketing Officer and earlier Senior Vice President, Merchandising – Food & Beverage, reflecting broad commercial experience inside Target.

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Accepted by SEC EDGAR 02/10/2026 - 07:01 AM Learn about SEC filing dates

0000027419false00000274192026-02-062026-02-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 6, 2026

Target Corporation

(Exact name of registrant as specified in its charter)

Minnesota

1-6049

41-0215170

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1000 Nicollet Mall,

Minneapolis,

Minnesota

55403

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (612) 304-6073

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.0833 per share

TGT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02             Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 10, 2026, Target Corporation (“Target”) announced that Lisa Roath has been appointed to the position of Executive Vice President and Chief Operating Officer, effective February 15, 2026. Ms. Roath, 48, has been employed by Target since 2006, most recently as Executive Vice President and Chief Merchandising Officer of Food, Essentials & Beauty (January 2025 to present), Executive Vice President and Chief Marketing Officer (July 2023 to January 2025), and Senior Vice President, Merchandising - Food & Beverage (July 2020 to July 2023). In connection with her appointment, Ms. Roath will receive an annual base salary of $775,000. Ms. Roath will continue to be eligible for (i) the same target bonus opportunity as other members of Target’s leadership team, (ii) stock-based awards granted under Target’s 2020 Long-Term Incentive Plan, and (iii) other benefits available to members of Target’s leadership team. Ms. Roath will continue to be an “at-will” employee of Target and will have no specified term as Chief Operating Officer.

Also on February 10, 2026, Target announced that Rick Gomez, Executive Vice President and Chief Commercial Officer, will step down from his role, effective February 15, 2026. At such time, Mr. Gomez will transition to an advisor role and serve as a non-executive officer until April 17, 2026, pursuant to an agreement between Target and Mr. Gomez, entered into on February 6, 2026. Throughout the term of Mr. Gomez’s transition arrangement, he will continue to receive the rate of base salary currently in effect and the same target bonus opportunity as members of Target’s leadership team. Mr. Gomez is expected to depart Target on April 17, 2026, under circumstances that will entitle him to severance under Target’s Income Continuation Plan on account of his involuntary termination without cause. Mr. Gomez will also receive vesting of a portion of his long-term incentives in accordance with the terms of such awards. Mr. Gomez’s transition agreement will be filed as an exhibit to Target’s Annual Report on Form 10-K for the fiscal year ending January 31, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

			TARGET CORPORATION
Date: February 10, 2026			By:			/s/ Melissa K. Kremer
						Name: Melissa K. Kremer
						Title: Executive Vice President and Chief Human Resources Officer

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