In its second-largest acquisition, Amazon buys the company for $970 million.
Target Corp. has named Beth Jacob executive vice president and chief information officer. Jacob oversees Target’s technology service team, including the group developing the retailer’s new e-commerce platform.
Target Corp. has promoted Beth Jacob from Target technology services senior vice president and chief information officer to executive vice president and CIO.
Jacob oversees Target’s technology service team, which supports Target.com and other e-commerce initiatives.
Jacob’s team includes a group working with the retailer’s Target.com team to develop Target’s own e-commerce platform, which is set to launch by the start of the holiday shopping season in 2011. Target announced last year it would move off of Amazon.com Inc.’s e-commerce platform. Amazon, which has provided Target’s e-commerce platform for several years, will continue to support Target.com until the new Target site is launched.
Jacob, previously, has held a number of positions within Target, including vice president of guest operations and vice president of guest contact centers.
Target is No. 20 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).