Inaddition, the company operates a credit card segment that offers brandedproprietary and Visa credit card products. The company gives back more than $3million each week to its local communities through grants and special programs.The company currently operates 1,683 Target stores in 48 states. Target CorporationJohn Hulbert, 612-761-6627 Copyright Business Wire 2009. MINNEAPOLIS(Business Wire)Target Corporation (NYSE:TGT) announced today that its board of directors hasappointed Gregg Steinhafel, president and chief executive officer, to theadditional role of chairman of the board, effective February 1, 2009. 
Ulrich will be designatedchairman emeritus in recognition of his many significant contributions. "During Bobs tenure, Target has achieved outstanding financial results andbecome one of the most recognized and valuable brands in the world," said JimJohnson, vice chairman of the Executive Committee of Targets board ofdirectors. "As we look to the future, we are completely confident in Greggsleadership and his ability to build on Bob Ulrichs legacy by continuing todeliver a superior guest experience, enhancing Targets team culture,reinforcing the companys strong commitment to its communities and positioningTarget to generate profitable growth for many years to come." Mr. Steinhafel, age 53, joined Target in 1979 and served in a variety ofmerchandising positions until being named executive vice president,merchandising in 1994. He was promoted to president of Target in 1999 and becamea member of the board of directors in 2007 Mr Steinhafel succeeded Mr.
Ulrichas chief executive officer of Target Corporation in May 2008 Mr. Steinhafel isa graduate of Carroll College and Northwestern Universitys Kellogg School ofManagement. He is a member of the board of The Toro Co., the Retail IndustryLeaders Association (RILA) and Tree House, a Minnesota-based non-profitorganization Mr. Ulrich began his career as a merchandising trainee in 1967 at Daytons, aformer division of Target Corporation.
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