MINNEAPOLIS, MN - Target has announced that Kathee Tesija, the company’s Chief Merchandising and Supply Chain Officer, is stepping down.
According to a statement from CEO Brian Cornell, Tesija will move to an advisory role on July 6 and then leave Target next April. Tesija has worked at the retailer for almost three decades.
This is the latest executive shakeup under new CEO Cornell. According to Bloomberg, he has already eliminated about 2,000 jobs at the company’s headquarters and shut down Target’s unprofitable Canadian division since his appointment in August. His plan to help reignite growth at the company includes more health food and wellness products, in addition to smaller stores.
“Over the past several months, Kathee and I have had many discussions about the business and together have decided that it is the right time for her to transition to an advisory role,” Cornell said in a statement. “In this role, she will spend the next several months contributing to key enterprise initiatives and ensuring a smooth transition of her responsibilities.”
In the interim before a replacement is found, Tesija's team will report to Cornell, said Dustee Jenkins, a company spokeswoman. She will receive severance pay of $4.44 million, according to a company filing by the company.
