Former managing director Stuart Machin defends legacy at Target

 In Australia, NewZealand, Target
Former Target managing director Stuart Machin has defended his legacy at the discount department store chain as Wesfarmers moves closer to completing an investigation into whether the retailer inflated earnings by colluding with suppliers.
It is understood that Mr Machin has denied involvement in a scheme aimed at boosting Target’s first-half profits by seeking extra rebates from suppliers in return for promises of price rises in the second half.
However, sources close to Mr Machin say he has acknowledged that if collusion occurred, it happened during his watch and that he must take responsibility for it. Sydney Morning Herald – Read more…

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