Jones will join privately-held ride-hailing app Uber on September 19 to lead the company's global marketing and operations, Fortune reports. He will replace board member Ryan Graves, who will remain at Uber in a senior role.
Jones orchestrated a number of Target's ad campaigns, and played a central role in the Minneapolis-based retailer's turnaround plan in 2014 following a data breach and failed Canadian expansion, Fortune adds.
"Target's marketing team is world class and we are well positioned headed into the important holiday season," CEO Brian Cornell said in a statement.
He noted that Target will undergo an "extensive internal and external search" for its next CMO.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Target's strengths such as its notable return on equity, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: TGT
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.