In its second-largest acquisition, Amazon buys the company for $970 million.
The move follows the departure of the chain’s CEO earlier this month.
The executive changes keep a-coming at Target Corp.
The retail chain, No. 18 in the new Internet Retailer Top 500 Guide, said today it has put Target veteran Mark Schindele in charge of Target Canada. He was senior vice president, merchandising operations. He replaces former Target Canada president Tony Fisher, who leaves the company immediately.
Target says it operates 127 stores in Canada, with the first opening in March 2013. But the division has lost money since expanding. Target lost $941 million in Canada for the year ended February 2014, according to the retailer’s financial report. That compares with a $369 million loss for the previous year.
“We are grateful to Tony for leading Target's first international launch. One of our key priorities is improving performance in Canada more rapidly and we believe it is important to be aggressive,” says John Mulligan, Target’s interim president and CEO. “Mark’s broad understanding of the retail industry and his record of leading global operations will help accelerate efforts to drive improvements across our Canadian business.”
Mulligan earlier this month replaced Gregg Steinhafel as president, CEO and chairman of the board of directors at Target. Steinhafel resigned after a December data breach at Target that allowed criminals to access 40 million customers’ credit and debit card numbers and related data by hacking into the payment systems used in Target’s U.S. stores.
Schindele has spent the last 15 years at Target, the chain says. He helped launch such store formats as PFresh (fresh food and produce), CityTarget (urban stores) and Target Express (smaller Target stores).
Target also announced three U.S. promotions:
• Trish Adams has been promoted to executive vice president, apparel and home
• Jose Barra has been promoted to executive vice president, essentials and hardlines
• Keri Jones has been promoted to executive vice president, merchandising planning and operations