MINNEAPOLIS — Target Corp. has named a new chief merchant to lead its food business as part of a leadership shakeup.
Target said Lisa Roth, currently its chief marketing officer, plans to become chief merchandising officer for food, staples and beauty in early 2025. In doing so, Roth will replace Rick Gomez, who will be promoted to chief commercial officer overseeing all of Target's merchandising, effective July 7. Also on the same day, chief growth officer Christina Hennington will assume an expanded role as chief strategy and growth officer.
Minneapolis-based Target said Roth will continue to serve “full force” as chief marketing officer until he assumes his new role early next year, reporting to chief guest experience officer Carla Sylvester, who will then report to Gomez. In the meantime, Target said it will conduct an external search for a new chief marketing officer.
Food and beverages will account for 23% of Target's fiscal 2023 sales, or about $24.33 billion, up from 21% in fiscal 2022, or $22.59 billion.
Roth has served as Target's executive vice president and chief marketing officer since July 2023. According to the company, he was promoted to CMO after serving as senior vice president of food and beverage merchandising for three years. In this role, he oversaw all purchasing for the grocery business and led the major retail chain's rapid digital expansion in the food sector. According to the company, he previously served as vice president of essentials merchandising, overseeing the baby, health and home goods divisions and establishing new functions to optimize pricing and promotional strategies. He also served as the lead architect of Target's merchandising organization's transformation, which blended physical and digital buying functions.
Rothe, who joined Target in 2006, also served as director of merchandising strategy, home goods and private label foods, and as senior buyer for the bakery and garden division.
“As we execute on our 2024 plan and look to the future, we have the key leaders and capabilities in place to sustain profitable growth over the long term,” said Brian Cornell, chairman and chief executive officer. “Today's announcement builds on our appointment of Michael Fidelke as chief operating officer in January and will further accelerate progress on our growth initiatives.”
“Christina will be focused on keeping our strategy consumer-centric, differentiated and future-oriented while Rick assumes full oversight of merchandising. Lisa's experience and proven track record leading our food and essentials businesses will make her a valuable addition to Rick's leadership team when she assumes her new role in 2025. In the meantime, we will conduct an exhaustive search for a top-tier brand marketer to succeed Lisa, further building on our strong marketing foundation.”
Gomez has served as executive vice president and chief food and beverage officer at Target since February 2021. As chief commercial officer, she will report to Cornell and be responsible for merchandising for Target's apparel, accessories, home, hardlines, food, essentials and beauty product categories, private brand sourcing and design, and merchandising planning and capabilities.
Gomez joined Target in April 2013 and served as senior vice president of marketing for nearly four years, before becoming senior vice president and chief marketing officer in February 2017 and chief marketing, digital and strategy officer in January 2020. He joined the retailer after years of managing multi-billion-dollar consumer goods brands at MillerCoors, PepsiCo and Quaker Oats.
Target credited Gomez with having a “significant impact” on the company's business and brands during his tenure, including playing a key role in resetting the company's strategy in 2017, launching its Roundel advertising business in 2019 and the recent growth of its food business. Target said that as chief executive of food, essentials and beauty, Gomez and his team have repositioned the company as a leading food retailer and driven “industry-leading growth” for its food and beverage brands Good & Gather and Favorite Days.
In assuming the role of chief food and beverage officer, Gomez succeeds Stephanie Lundquist, who was named president of Target's food and beverage division, a newly created role at Target, in January 2019 after serving as chief human resources officer. She left the company in the spring of 2021.
Source link
