Target’s CFO and COO keen to wear just one hat
Shawn Cole, CFO Practice Leader Quoted in Fortune Magazine
The new CFO will play a major role in keeping up this momentum. Target is “highly regarded” and should not have any issues attracting top talent, Shawn Cole, president and founding partner of Cowen Partners, a C-suite-focused executive search firm, told me. The average CFO search lasts approximately six to nine months, Cole said. But he doesn’t think it will take Target nine months to secure a new finance chief.
‘A deep understanding of the industry’s challenges’
The company’s ideal CFO would bring extensive experience in retail finance, with a deep understanding of the industry’s challenges, such as low margins, high inventory turnover, and supply chain complexities, Cole said. A candidate with experience in senior financial roles at large, omni-channel retailers with e-commerce exposure, would also be desirable to the board, as well as possessing a proven track record in optimizing costs, improving supply chain efficiency, and managing substantial budgets, he said.
“Experience in leading financial strategy through transformation, including digital innovation and market expansion, is essential,” Cole said. And the ability to align financial strategy with operational goals is key as well, he said.
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About Cowen Partners Executive Search
Cowen Partners is the nation’s executive search firm, enabling companies to harness the power of human capital to fuel their success. Cowen Partners gives our clients access to the top 1% of human capital to create opportunities that accelerate their growth and market share. With Cowen Partners, clients can grow at scale, create value, and drive results with world class talent. Our clients are both small and large, publicly traded, pre-IPO, private, and non-profit organizations.
Clients are typically $50 million to multi-billion dollar revenue Fortune 1000 companies or have assets between $500 million to $15 billion. Successful placements span the entire C-Suite and include VP and director level leadership roles.
With our proven processes and guaranteed results, we have successfully placed hundreds of candidates in industries including technology, healthcare, manufacturing, retail, financial services, and private equity.
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