Target's president of financial services to retire; deal with TD Bank closes

Author:
Updated:
Original:

Target's president of Financial and Retail Services, Terry Scully, plans to retire in March 2014, according to a company news release. Scully, 60, will move to an advisory role starting next month to ensure "a smooth transition for our financial services operations."

“For nearly 35 years, Terry has been a valuable member of this Target team,” said CEO Gregg Steinhafel, in a statement. “And, for the past decade, Terry’s leadership and his vision have led to the creation of an exceptional suite of financial products and services, which were critical in strengthening guest loyalty and delivering substantial profitable growth. I appreciate his many contributions and am grateful that Target will continue to benefit from Terry’s expertise during this transitional period.”

Scott Kennedy, Target's vice president of Pay and Benefits, will take over the roll. Kennedy, 44, joined Target in 2005.

The Minneapolis-based retail giant has also closed its nearly $6 billion deal, first announced last fall, to sell its consumer credit card portfolio to Toronto-based TD Bank Group, the company said in a separate news release.

"We’re pleased that we’ve completed the sale of our credit card portfolio," CEO Steinhafel, said in a statement. "We look forward to working with TD Bank Group, a premier financial institution, to provide innovative financial products to our guests and profitably grow the portfolio over time."

Meanwhile, the Associated Press says Target Corp. has added the CEO of St. Paul-based Ecolab Inc., Douglas Baker, and the COO of Yahoo Inc., Henrique De Castro, to its board of directors.

Next Up

Screen Shot 2021-01-23 at 7.53.44 PM

Spinouts, crashes across Twin Cities as snow gets heavier

There have been multiple incidents across the metro area.

Mason Branstrator

Family, friends raising funds for teen soccer standout with spinal injury

Mason Branstrator of Duluth was injured in a skiing accident.

Screen Shot 2021-01-22 at 9.08.16 PM

Tributes pour in after MN Supreme Court justice's daughter found dead

Olivia Chutich died near the campus of Iowa State University.

Image from iOS (96)

Early Saturday fire damages Burger King in Richfield

The fire was reported around 1:15 a.m. Saturday.

Jamal Mashburn Jr. / Gopher Basketball

Maryland hands Gophers first home loss of season

The 17th-ranked Gophers fell to the Terrapins 63-49 on Saturday afternoon.

Alibi Drinkery in Lakeville.

Minnesota Department of Health files lawsuit against Alibi Drinkery

The Lakeville bar has been in the news for defying orders.

Iron Tap snowmobile delivery

This MN restaurant will deliver to your ice house... on a snowmobile

Just in case you work up an appetite fishing on Lake Waconia.

Klobuchar and Trump

Klobuchar reacts to report Trump plotted against his attorney general

The NYT story alleges further tactics to overturn the election.

snow, plow

Snowy Saturday: Here's how much snow is forecast in Minnesota

Snow will reach the metro area by the early afternoon.

Related