.png)
.webp)
© History Oasis
In 1902, George Dayton founded Goodfellow Dry Goods but renamed it to Dayton's Dry Goods Company (eventually Target) a year later.
As a devout Presbyterian, Dayton instilled the store with his strict religious values including closing on Sundays.
Though he originally had no experience in retail, Dayton grew the company into a multimillion-dollar business by the 1920s. His son Nelson and grandson Donald succeeded him at the company's helm after Dayton's passing in 1938.
When his father George Dayton passed away in 1938, Nelson Dayton assumed the presidency of the Dayton Company at just 43 years old.
He maintained the conservative Presbyterian principles of the business yet transitioned to a more innovative and aggressive management style.
Under Nelson's leadership throughout World War II, the company focused on keeping its department store well-stocked which increased revenue.
Though his father had forbidden it, Nelson modernized operations by allowing the store to sell alcohol and open on Sundays. After Nelson's death in 1950, his own son Donald took over leadership of the ever-growing family enterprise.
As the son of Donald Dayton, Douglas Dayton descended from the family that founded the Dayton Company back in 1902.
When the first Target discount store opened in 1962, Douglas assumed the critical role of the new chain's inaugural president.
Drawing on the company's decades of retail experience, he helped guide Target's initial strategy focused on suburban markets.
Though only four Target stores existed after the first year, Douglas laid the foundation for expansion by putting the stores on the path to profitability by 1965.
His strong leadership convinced the Dayton Company that discount retail would soon thrive and surpass their department store revenue.
Stepping into the role of Target president in 1968, William A. Hodder took the reins from Douglas Dayton who had recently departed the discount chain.
Hodder oversaw a period of rapid growth for Target as the retailer expanded outside Minnesota for the first time by opening two stores in the Denver area.
Under his leadership, Target also acquired the J.B. Hudson & Son jewelry chain and began selling alcohol, Modernizing from the old Presbyterian prohibitions.
Though Hodder only served as president for a short time, he set the stage for Target's growth into a national brand over the coming decades.
His successor Stephen Pistner would inherit a promising discount chain nearing $130 million in sales across 46 stores in just six years.
With Target struggling after its swift early expansion, the company called upon retail veteran Stephen Pistner to take charge in 1973.
As CEO, he improved inventory controls and reduced new store openings to refocus the business.
Pistner's tenure saw Target rebound to profitability under a new strategy emphasizing measured Midwest growth versus overextension.
Respected as an innovative executive, he would later lead Montgomery Ward and Ames back from the brink.
Though leaving Target after just five years, Pistner renewed the foundation of the discount chain in time for even greater success in the 1980s.
Kenneth A. Macke took charge of Target as it emerged as a leading Midwest discount retailer in the late 1970s.
Assuming the chairman and CEO positions in 1977, he focused expansion into new states while ending unprofitable specialty retail diversifications.
Macke oversaw impressive growth as Target reached $5.3 billion in sales by 1987 with over 300 stores across 24 states.
After 11 years guiding the company, he passed leadership to trusted lieutenant Bob Ulrich in 1987. His vision left Target poised for its nationwide expansion of the next decade under new CEO Ulrich’s stewardship.
Named chief executive in 1981, Floyd Hall brought over 30 years of discount retail experience to guide Target's growth.
His focus on strong profits laid the groundwork for Target's expansion momentum to accelerate in the 1980s.
Hall supervised new store openings while overseeing the acquisition and integration of Ayr-Way's 40 locations.
However, his tenure at the top proved short as he moved on from Target after just three years leading the thriving chain. Later known as an innovator in specialty superstores, Hall left Target Stores well-positioned for the stellar gains achieved by his successor, Bob Ulrich.
Bob Ulrich became Target's chief executive following a controversial corporate takeover attempt in 1987 after 15 years growing through the ranks.
Guiding Target for well over a decade, he focused on expanding the chain into a truly national retailer with over 1,300 locations by 2000.
Under Ulrich’s leadership, Target also pioneered specialty discount retail concepts like SuperTarget hypermarkets.
During his leadership, he oversaw Dayton-Hudson Corporation being rebranded TargetCorporation in 2000.
Longtime company veteran Gregg Steinhafel became CEO in 2008.
Steinhafel led Target’s expansion into e-commerce and the grocery.
He also dealt with the failure of the Target Canada launch and the 2013 customer data breach.
Because of his failures, Steinhafel resigned as chief executive in 2014.
Despite overseeing profits and revenues at record highs, persistent struggles to reclaim shopper trust ultimately cut his CEO role short after just six years.
Cornell arrived in 2014 as Target's first external CEO hire, bringing retail leadership experience from PepsiCo, Walmart, and Safeway.
He rebuilt Target's digital capabilities through strategic investments in technology, e-commerce, and same-day delivery via the Shipt acquisition.
Cornell modernized operations with smaller-format stores, curbside pickup, and mobile integration while strengthening Target's signature brand partnerships.
His tenure weathered significant challenges: the failed Canada expansion exit, supply chain disruptions, and customer backlash over diversity policy reversals.
Despite early success revitalizing the brand, Cornell's final years confronted four consecutive years of stagnant sales and declining store traffic.
After eleven years leading Target's digital transformation, Cornell transitions to executive chairman as the company seeks renewed growth momentum.
Target veteran Michael Fiddelke assumes the CEO role in February 2026 after two decades climbing the company ranks.
Starting as an intern in the early 2000s, Fiddelke built expertise across finance, merchandising, operations, and human resources before becoming CFO and later COO.
At 49, he inherits a company struggling with four years of stagnant sales, declining store traffic, and customer backlash over policy changes.
Fiddelke has been tasked with restoring Target's reputation for stylish merchandise, delivering consistent customer experiences, and leveraging technology for operational efficiency.
Unlike previous external hires, Fiddelke represents institutional knowledge paired with urgency for change.
He’s challenged with Target's sales decline while preserving the "cheap chic" brand identity that once earned the retailer its devoted following.
The board's unanimous choice signals confidence that an insider can navigate Target's current difficulties better than an outsider, despite investor preference for external leadership.
Fiddelke takes charge as Target fights to reclaim its position as America's preferred discount retailer.
.webp)
.webp)
.jpg)