Veteran merchandising and supply chain executive Rick Maguire has announced plans to retire from his current position as SVP supply chain at Target Canada effective June 15, according to an internal company announcement.
The move caps a 27-year career at Target that began in 1985 when Maguire joined the company as an inventory manager. It was only a year ago that Maguire was named to his current position and prior to that he spent 16 year as an SVP merchandise planning.
“Rick has been a key leader in developing our merchandise planning organization and inventory management discipline,” according to the internal announcement from Target Canada president Tony Fisher. “He has also been passionate and dedicated to mentoring and developing numerous leaders throughout Target. We thank Rick for his many contributions.”
To facilitate a smooth transition, Maguire will remain in his current role through his retirement date and Fisher noted that he was grateful that Target Canada will continue to benefit from Maguire’s experience and expertise during the transition period.
As evident from Fisher’s comments, the departure of Maguire is amicable, but that doesn’t change the fact that he is the latest in a series of senior level departures that collectively present the potential for disruption in 2012 without careful attention to succession.
Since last fall, chief marketing office Michael Francis, Target.com president Steve Eastman and CFO Doug Scovanner have left the company or announced plans to depart in 2012. While the circumstances surrounding each are different, in Maguire’s case he is stepping down as Target is about to experience arguably its greatest supply chain challenge ever as it is a little more than a year away from opening the first wave of approximately 150 stores in Canada.