The company said it plans to keep this structure in place for now and will not search for a new chief merchant at this time.

The company said it plans to keep this structure in place for now and will not search for a new chief merchant at this time. (Dreamstime/TNS)

MINNEAPOLIS - Mark Tritton, Target's chief merchant for the last three years who has led a well-regarded overhaul of its portfolio of private-label brands, is leaving the company to become CEO of Bed Bath & Beyond.

The Minneapolis-based retailer announced his departure Wednesday afternoon and also the promotion of Michael Fiddelke to become its next chief financial officer.

In the wake of Tritton's departure, Target said two current executives, Christina Hennington and Jill Sando, will assume interim leadership of the retailer's merchandising organization. They both took on expanded responsibilities to become senior vice presidents and general merchandising managers in January.

The company said it plans to keep this structure in place for now and will not search for a new chief merchant at this time.

"Mark brought a tremendous amount of energy to his role as our chief merchant," Target CEO Brian Cornell said in a statement. "His focus on developing the next generation of leadership, establishing a comprehensive merchandising strategy and re-energizing our owned brand portfolio are among his most meaningful contributions. Along with the entire Target team, I wish him the best."

Visit the Star Tribune (Minneapolis) at www.startribune.com

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