8-KLeadership Changes

TARGET CORP 8-K Report, Executive Changes (Feb 10, 2026)

Filed February 10, 2026For Securities:TGT

Summary

Target Corporation (TGT) has announced a key executive leadership change, appointing Lisa Roath as the new Executive Vice President and Chief Operating Officer, effective February 15, 2026. Ms. Roath, a long-tenured employee with extensive experience across merchandising, marketing, and food/beverage categories, will receive a base salary of $775,000 and remain eligible for existing bonus and long-term incentive plans. This appointment signifies a promotion for Ms. Roath and suggests a strategic move leveraging her internal expertise to lead operational functions. Concurrently, Rick Gomez, the current Executive Vice President and Chief Commercial Officer, will step down from his role on February 15, 2026. Mr. Gomez will transition to an advisor role until April 17, 2026, and subsequently depart Target under circumstances qualifying for severance benefits, including continued salary and bonus, receipt of severance under the Income Continuation Plan due to an involuntary termination without cause, and vesting of a portion of his long-term incentives. This dual announcement indicates a planned transition at the senior executive level, with Target retaining Mr. Gomez in a transitional capacity.

Key Highlights

  • 1Lisa Roath appointed Executive Vice President and Chief Operating Officer, effective February 15, 2026.
  • 2Ms. Roath has a long tenure at Target, previously holding roles such as Chief Merchandising Officer and Chief Marketing Officer.
  • 3Ms. Roath's compensation includes an annual base salary of $775,000, with continued eligibility for bonuses and stock-based awards.
  • 4Rick Gomez, EVP and Chief Commercial Officer, will step down from his role effective February 15, 2026.
  • 5Mr. Gomez will transition to an advisor role until April 17, 2026.
  • 6Mr. Gomez's departure is classified as an involuntary termination without cause, entitling him to severance under Target's Income Continuation Plan.
  • 7Mr. Gomez will also receive vesting of a portion of his long-term incentives upon departure.

Frequently Asked Questions

Lisa Roath has been appointed as the new Executive Vice President and Chief Operating Officer. She is 48 years old and has been with Target since 2006, most recently serving as Executive Vice President and Chief Merchandising Officer of Food, Essentials & Beauty. Her previous roles include Executive Vice President and Chief Marketing Officer and Senior Vice President, Merchandising - Food & Beverage, indicating a deep understanding of Target's business operations and strategy.

Rick Gomez will step down as Executive Vice President and Chief Commercial Officer on February 15, 2026. He will then transition into an advisor role and serve as a non-executive officer until April 17, 2026. After this transition period, he is expected to depart Target.

Ms. Roath will receive an annual base salary of $775,000. She will also continue to be eligible for the same target bonus opportunity as other members of Target's leadership team, stock-based awards under Target’s 2020 Long-Term Incentive Plan, and other benefits available to senior leadership.

Mr. Gomez is expected to depart under circumstances that entitle him to severance under Target’s Income Continuation Plan due to an involuntary termination without cause. He will continue to receive his current base salary rate and target bonus opportunity during his transition period. Additionally, he will receive vesting of a portion of his long-term incentives according to the terms of those awards.