Target CFO to Retire in March

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Target CFO to Retire in March

11/01/2011

Target Corp. Chief Financial Officer Doug Scovanner will retire in late March after 17 years at the post – the third high-profile departure at the Minneapolis-based retailer since early October.

No successor has been named, though the retailer said in a statement that it had a “strong leadership bench,” Reuters has reported.

Scovanner, who turns 56 later this month, became CFO of Dayton Hudson Corp, now Target, in 1994; he added the title of executive VP in 1999.

On Oct. 13, Target announced that Steve Eastman, president of Target.com, had left the company to pursue other opportunities. Ten days earlier, Michael Francis, Target’s chief marketing officer since 2008, left and was named J.C. Penney’s new president under Ron Johnson. Recently known for his tenure at Apple, Johnson also previously worked for Target.