Target's Chief Merchandising And Supply Chain Officer Tesija To Step Down

(RTTNews) - Target Corp. (TGT) said that Kathryn Tesija, Executive Vice President and Chief Merchandising and Supply Chain Officer, will move to a strategic advisory role on July 6, 2015. So, Tesija will no longer be classified as an executive officer after July 6, 2015.

The company noted that Tesija has agreed to remain employed by Target on an at-will basis until April 1, 2016 to assist with the transition of her responsibilities and provide advisory services.

In this new role, Ms. Tesija will continue to receive her current base salary through April 1, 2016, and current target bonus opportunity for fiscal year 2015 performance.

Following the conclusion of her employment she will be eligible for severance payments under Target's Income Continuance Policy. As a condition to severance payment eligibility, Ms. Tesija will be required to sign an agreement that includes a non-solicitation clause, a release of claims, and a non-competition provision.