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Target Taps Steinhafel As CEO

1/09/2008 03:41:00 PM Eastern

Minneapolis — Target today named president Gregg Steinhafel as the new CEO, replacing Bob Ulrich who will retire from the company, effective May 1.

Steinhafel, 52, joined target in 1979, and has served in a variety of merchandising positions and was promoted to his current spot in 1999.

Ulrich began his long career at Target as a merchandising trainee in 1967 at Dayton's, a former division of Target Corp. He was named president of Target Stores in 1984 and became chairman and CEO of the division in 1987. In 1994, Ulrich was named chairman and CEO of the corporation.

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