Target names retail veteran Cathy Smith new CFO

(TGT) said it has promoted John Mulligan to the newly created role of executive vice president or EVP and chief operating officer or COO, effective September 1.

The moves are the latest in a series of management changes under Target Chairman and Chief Executive Brian Cornell, who recently wrapped up his first year at the retailer’s helm.

“As our new CFO, Cathy brings significant business and retail expertise to Target”, Cornell said in a statement. 1, has previously served as CFO of Wal-Mart Stores Inc’s global division. Kathee Tesija, chief merchandising and supply chain officer, moved into an advisory roll in July, and the company is still searching for her replacement.

John Mulligan, shown here in a 2014 photo, , will become chief operating officer for…

Commenting on Mulligan, Target said he has been working with the company since 1996, when he began as a financial analyst. “Joining the team at Target gives me an opportunity to bring my professional experience and love of food to the organization as their transformation is just getting underway”, said Dament, according to Business Wire. “Her background will be integral to accelerating our long-term growth strategy”.

Smith, who formally joins Target on September 1, was CFO at Express Scripts of St. Louis, the nation’s largest pharmacy benefits manager. He has served as the company’s chief financial officer since 2012. He was interim CEO for about four months last year after former CEO Gregg Steinhafel resigned in May 2014.

Since taking the leadership role at Target about a year ago, Mr. Cornell initiated a cost-savings strategy that included job cuts at its headquarters and closing approximately 133 unprofitable stores in Canada. The company is expected to report its fourth-straight quarter of increases for a key sales measurement when it reports its second-quarter results on Wednesday. As Target’s c.f.o., she will be responsible for treasury and tax, internal and external financial reporting and operations, financial planning and analysis, internal audit, investor relations and target’s financial and retail services business.