Steinhafel Steps Down from Target; CEO Search Underway
Target’s board of directors announced that Gregg Steinhafel is stepping down as chairman of the board of directors, president, and CEO. John Mulligan, Target’s CFO, has been appointed as interim president and CEO. Roxanne S. Austin, a current member of Target’s board of directors, has been appointed as interim non-executive chair of the board. Both will serve in their roles until permanent replacements are named. Steinhafel, who spent 35 years with Target, will serve in an advisory capacity during this transition.
The Wall Street Journal is reporting that Steinhafel’s “exit packages is estimated to be worth $37.8 million based on Target’s Monday closing share price, including cash severance, and accelerated vesting of stock.” Target did not comment on the exit package to The Wall Street Journal. The package was not announced in the resignation statement from the company.
Target did announce that it has retained Korn Ferry to advise the board on a comprehensive CEO search.
Boylan, Streff Join Epic Rights
Juli Boylan was recently appointed executive vice-president, global strategic partnerships & licensing for Epic Rights. She will oversee Epic Rights’ newly formed dedicated licensing division. Additionally, Lisa Streff has joined Epic Rights as senior vice-president of licensing and will focus on the company’s North American licensing business. Epic Rights was founded in 2009 by Dell Furano.
Sesame Workshop Hires Kofsky
Sesame Workshop has named Lewis Kofsky to the newly created position of vice-president, international creative and global interactive strategy. In this role, Kofsky will oversee the creative direction for Sesame Workshop’s international co-productions and initiatives. He will also lead Sesame Workshop’s strategy for gaming projects providing a library of interactive offerings on a global scale.
Most recently, he served as director of game services at the San Francisco-based startup Playnomics. As partner and executive producer at Curious Pictures for more than 13 years, Kofsky led a commercial production studio into TV, film, and video games.