Target Prepares for 2 Executive Retirements

As the new year approaches, Target has announced the impending retirements of two of its tenured executives. John Mulligan, EVP and COO, will remain in his role until February 2024, at which point he will transition to a strategic advisor role with the company until February 2025. Laysha Ward, EVP and chief external engagement officer, will transition to a strategic advisor role through April 2024.

Meanwhile, Matt Zabel has been named chief corporate affairs officer at Target and will report to CEO Brian Cornell. Kiera Fernandez has also been promoted to the role of EVP and chief community impact and equity officer. In her new role, Fernandez will oversee external stakeholder engagement, as well as the company’s diversity, equity and inclusion strategy and corporate philanthropy efforts.

“On behalf of the entire Target team, I want to thank John and Laysha for the tremendous impact they’ve had on our team and business during their impressive careers with the company,” said Cornell. “I look forward to working closely with John until his retirement in 2025 and appreciate the important role he’ll play in setting his successor up for success, and I wish Laysha the very best as she prepares to embark on her next chapter.”

For his part, Mulligan joined Target in 1996 and has held a variety of leadership positions in finance, digital and human resources. Mulligan was promoted to his current role in 2015 and has played a critical role in the successful rollout of Target’s “stores as hubs” strategy. Succession plans for his role will be shared before Mulligan officially retires in February.

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“As I prepare to retire next year, I want to start by saying thank you to the Target team, particularly our operations, store and supply chain team members. I’m humbled by the opportunities I’ve had to help grow Target into a Fortune 50 company, fortified by a long-term, durable growth strategy,” said Mulligan. “By maintaining a relentless focus on our guests, we continue to show what it looks like to adapt to meet evolving needs and a constantly changing retail landscape, all while delivering a sense of joy that’s uniquely Target. And what’s even more rewarding is the confidence I have that the best is still to come for this incredible brand.”

Ward spent more than two decades leading corporate responsibility and the Target Foundation, and was appointed in 2008 by President Bush to the board of directors of the Corporation for National and Community Service (now known as AmeriCorps), on which she served as the board chair under the Obama Administration.

Minneapolis-based Target Corp. is No. 6 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America, with nearly 2,000 locations. PG also named the company one of its Retailers of the Century.