Brian Cornell, Janna Potts (Photos: Target)
It's expected that when a new CEO comes into a company, particularly one that is struggling, that changes will be made within the executive ranks. There are instances when the changes work and others when they don't. In the case of Target CEO Brian Cornell, the changes he's made since assuming the top spot at the chain in 2014 appear to be on point.
This week, Target announced that Janna Potts, a longtime executive with the chain, has been promoted to chief stores officer. She is replacing Tina Tyler, who was hired in 2011 by Mr. Cornell's predecessor, Greg Steinhafel. Ms. Potts will report to COO John Mulligan, whom Mr. Cornell promoted in 2015.
According to the Minneapolis Star Tribune, five of the 10 executives who are part of Mr. Cornell's leadership team were either hired or promoted since he joined Target. Some analysts, according to the report, have questioned the speed with which Mr. Cornell has gone about reshaping the c-suite.
Few, however, can argue that the chain has shown improvement following a series of mishaps that included a massive data breach and an ill-conceived entry into Canada under Mr. Steinhafel. Customer traffic has been up for five straight quarters, according to an Associated Press report, and comparable store sales have been trending positively.
- Target executive Janna Potts becomes chief stores officer, continuing CEO Brian Cornell's makeover at the top - Minneapolis Star Tribune (tiered sub.)
- Target Fires Stores Chief in Latest C-Suite Shake-up - Fortune
- For Target, 2015 brought layoffs, empty shelves and hope - MPR
- Store changes paying off for Target with sales on upswing - The Associated Press/Omaha World-Herald