Target Promotes John Mulligan To Newly Created Role Of COO

(RTTNews) - Discount store operator Target Corp. (TGT) said it has promoted John Mulligan to the newly created role of executive vice president or EVP and chief operating officer or COO, effective Sept. 1. Mulligan will assume oversight of stores, supply chain and properties.

Further, the company said that Cathy Smith will be joining Target as executive vice president and chief financial officer or CFO. Both Mulligan and Smith will report to Target's chairman and chief executive officer, Brian Cornell.

Mulligan will also serve as an advisor to Smith throughout her transition into the company and the role. Smith will formally join the company on Sept. 1, 2015, Target said.

Commenting on Mulligan, Target said he has been working with the company since 1996, when he began as a financial analyst. He has served as the company's chief financial officer since 2012. In 2014, he led the company as the retailer's interim president and CEO from May to August while continuing to act as CFO.

Prior to joining Target, Smith served as executive vice president and chief financial officer at St. Louis-based Express Scripts, a Fortune 20 company and the nation's largest pharmacy benefit manager with $100 billion in revenue.

As CFO at Target, Smith's responsibilities will include Treasury and Tax; Internal and External Financial Reporting and Operations; Financial Planning and Analysis; Internal Audit; Investor Relations; and Target's Financial and Retail Services Business, the company stated.

The company said it will report its second quarter financial results on Aug. 19.