The axe falls at Target (part 2)

The end of Gregg Steinhafel’s 35 year career at Target was widely reported this week, along with speculation about the type of CEO that the company could use. I posted my thoughts on RetailWire, and here they are:

While hiring and promoting from within has always been part of the Target tradition, the company may need an outsider who is not a part of its insular culture. (“Guest,” anyone?) As several other panelists point out, the company’s performance has stagnated for several years — long before the data breach — and the focus on merchandising needs to be strengthened. Target’s “brand” is as much about the product as any retailer in the business, and it would be fun to see what a “merchant prince” like Mickey Drexler could do with the company.

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