Minneapolis – In a management shakeup, Target Corp. has replaced Tony Fisher, president of its troubled Canadian operations, with 15-year company veteran Mark Schindele, effective immediately.
In this position, Schindele will report to Kathee Tesija, chief merchandising and supply chain officer, whose responsibilities include Target Canada. He brings 22 years of retail experience, including 15 years at Target, where he launched new store formats including PFresh and CityTarget. Target has cited weaker-than-expected Canadian sales growth as hurting its financial performance and also included it as a reason for terminating former CEO Gregg Steinhafel. Schindele joined Target in 1998.
“We are grateful to Tony for leading Target's first international launch,” said John Mulligan, Target’s interim president and CEO. “One of our key priorities is improving performance in Canada more rapidly and we believe it is important to be aggressive. We have a committed team who is focused on delivering an outstanding shopping experience to our Canadian guests and getting our performance on track. Mark’s broad understanding of the retail industry and his record of leading global operations will help accelerate efforts to drive improvements across our Canadian business.”
Target also plans on naming a non-executive chair in Canada. In this newly created advisory role, the non-executive chair will provide counsel and support to the president of Target Canada to ensure all strategies and tactics align with the Canadian marketplace.
"Target is committed to making more rapid progress in Canada and I am personally very excited about working alongside the team to improve operations and deliver a Target experience that will earn us the trust and loyalty of our Canadian guests," said Schindele.
In the U.S., Target is also elevating three senior merchandising leaders and realigning the team as the company focuses on driving improved performance. Trish Adams has been promoted to executive VP apparel and home; Jose Barra has been promoted to executive VP, essentials and hardlines; and Keri Jones has been promoted to executive VP merchandising planning and operations.
Target added that the timing of the leadership changes is unrelated to its first quarter 2014 financial results, which the company is scheduled to announce May 21. The news comes a day after the company brought onboard Peter Glusker as senior VP, new business integration and operations, as well as a day after a regulatory filing confirmed that Target cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012.