MINNEAPOLIS – Target Corporation announced today the creation of a new, multi-year Enterprise Acceleration Office, a strategic initiative to increase speed, efficiency, and collaboration across its operations. The effort will be overseen by Chief Operating Officer Michael Fiddelke and is positioned as a key pillar in the company’s broader roadmap for growth. This comes as the company released its disappointing Q1 results this morning.
Thorvardur de Shong
“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.”
The new office will focus on streamlining cross-company processes and innovatively leveraging technology and data. According to Target, this move goes beyond traditional efficiency measures, aiming instead to build a more responsive and agile operating model.
As part of the broader transformation, Target also announced several leadership changes to support its acceleration strategy:
- Prat Vemana, Chief Information and Product Officer, will now report directly to CEO Brian Cornell and assume the leadership of Target in India's global capability center.
- Jim Lee, Chief Financial Officer, will add enterprise strategy and partnerships to his responsibilities.
- Rick Gomez, Chief Commercial Officer, will now oversee the enterprise insights team.
The company also announced that Christina Hennington, Chief Strategy and Growth Officer, will depart the company and transition into a strategic advisor role through September 7, 2025. CEO Cornell praised Hennington for her contributions, noting her role in expanding Target’s commercial business by billions of dollars. “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.
In a separate development, Amy Tu, Chief Legal and Compliance Officer, will also leave the company. Melissa Kremer, Chief Human Resources Officer, will temporarily oversee the legal function while Target searches for a permanent replacement.
