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Target Chief Risk and Compliance Officer to Leave Company

Target Corp.'s chief risk and compliance officer Jacqueline "Jackie" Rice has made the "personal decision to leave Target to be closer to her family who live outside Minnesota," the Minneapolis-headquartered retail giant has announced.

Rice, who joined Target almost three years ago as the company was reshuffling the executive ranks following a massive 2013 data breach, will leave at the end of September. Rice will not be replaced, according to the company. Instead, chief legal officer Don Liu will inherit her team.

"We are extremely thankful for the work Jackie led in the past three years to strengthen our risk and compliance efforts," the company wrote in an emailed statement. "Her contributions will continue to serve Target well now and in the future."

Rice joined Target officially on Dec. 1, 2014. Nine months earlier, the company's chief information officer, Beth Jacob, stepped down in the aftermath of a data breach that affected up to 110 million customers. Shortly after Jacob's departure, CEO Gregg Steinhafel also stepped down. 

Upon her hire, Rice was originally tasked with overseeing compliance, corporate security, enterprise risk management and vendor management, and she reported directly to Brian Cornell, the CEO hired in August 2014. Target agreed to settle a lawsuit regarding the data breach for $18.5 million earlier this year.

During her tenure, Rice eventually reported directly to CLO Liu, and she managed about 200 people, including a security team for Target's roughly 1,800 stores in the United States. At the time of her hire, Rice said that during the process of interviewing for her new role, she was "struck by the unwavering commitment and incredible talent across Target."

Before joining Target, Rice had spent roughly 17 years at General Motors, originally joining the car manufacturer in 1999 as an in-house attorney for the Buick Motors division.

In 2005, Rice was promoted, earning added responsibilities as the information technology global process leader; and in 2008, she became the process leader for global transactions, managing in-house counsel on corporate and commercial transactions.

According to Rice's LinkedIn profile, she left GM for 10 months between 2009 and 2010, working as an attorney for Accenture, but she rejoined GM as executive director of global ethics and compliance. In 2013, she was promoted to chief compliance officer at GM.

Before she leaves Target, Rice will spend time helping Liu with her team and making for a smooth transition, a Target spokesperson said.

Contributing Author

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David Ruiz

David Ruiz is the in-house counsel reporter for the San Francisco-based legal affairs paper The Recorder. Ruiz has written for The Sacramento Bee,...

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