Target's CIO Gives Money Back

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Target's CIO Gives Money Back

Not long after taking over as Target’s chief information officer, Mike McNamara told his boss, CEO Brian Cornell, that his budget was too big.

“For the first time perhaps in my career, I had someone walk into my office and say, ‘Brian, I’ve got too much capital to spend,’ ” Cornell recounted to Wall Street analysts at a meeting in New York earlier this year. “ ‘I want to give you some dollars back.’ ”

As in hundreds of millions of dollars back.

McNamara arrived last June from British-based grocer Tesco and quickly ushered in a completely new direction for Target’s IT department. He identified three main weaknesses: Target had outsourced too much of its tech talent. Its systems were too unstable. And it was working on too many projects.

“We were just doing too many things,” he said in an interview at his downtown Minneapolis office. “I mean we had over 800 projects. Even a company as big as Target doesn’t have 800 priorities.”

The list has now been pared back to 80.

This is an excerpt from the StarTribune article, "Target's IT chief set a new direction, starting with smaller budget." Click here for the full article.

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