Business

Target Names New Chief Financial Officer

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. 4 Things To Know For Oct. 22, 2014
  2. Target Offering Free Shipping Through December
  3. St. Paul Woman May Have Been Serial Killer Victim
  4. After Airbag Recall, Consumers Still Looking For Answers
  5. Group Pushes For Halal Food Shelf

MINNEAPOLIS (AP) – Target is promoting John Mulligan to chief financial officer. The move is effective April 1.

Mulligan, 46, is replacing Doug Scovanner. He had been CFO for 18 years and said in November that he would step down.

Mulligan has been with discount retailer Target for 16 years in a variety of positions. Most recently he was senior vice president, finance.

Scovanner will remain with Target part time until November 2012.

The company has rebounded after consumers cut back on spending during the recession, but the rebound has been uneven. Minneapolis-based Target earlier this month lowered its fourth-quarter earnings expectations following disappointing December sales. Net income in its most recent quarter rose 4 percent while sales rose 5.4 percent.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,906 other followers