Target CEO’s Shake-Up Is Under Way With Logistics Executive OutKim Bhasin and Matt Townsend
The shake-up at Target Corp.’s headquarters being led by Chief Executive Officer Brian Cornell is under way, with at least one top executive already out.
Mike Robbins, senior vice president of global supply chain and logistics, confirmed over the phone that he’s no longer at the company. He declined to comment further. Robbins joined Target in 2001 and was named to his most recent position in 2012, according to his LinkedIn profile.
Target, the second-largest U.S. discount retailer, said on Tuesday that it would eliminate “several thousand” jobs in the next two years, mostly at its Minneapolis headquarters, where it employs 13,000 people. Cornell plans to trim expenses by $2 billion to revive a retailer that’s struggled to boost sales.
“It will allow us to be a much more agile, effective organization,” Cornell said at a press conference on Tuesday. “It will make us a more competitive company going forward.”
Cornell, a former PepsiCo Inc. and Wal-Mart Stores Inc. executive, took over at Target in August with the retailer at a crossroads. A hacker attack during the 2013 holidays hurt sales and a move into Canada had faltered, causing billions in losses. Cornell pulled out of Canada in January and is refocusing Target on key categories of merchandise to win back customers. The Canada unit employed 17,000 people.