Michael Francis to Oversee Target’s Entrance into Canadian Market

MINNEAPOLIS - Target Corporation (NYSE: TGT) announced today that the company’s chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market. In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States.

“Under Michael’s leadership, Target has emerged as one of the most recognizable brands in the world and I am pleased that he will guide our expansion into Canada,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “With more than 25 years of experience with this corporation, Michael has a deep understanding of Target and the retail industry. His responsibility for corporate brand and reputation including our community relations efforts uniquely position him to lead this effort.”

Target recently announced that the company acquired leasehold interests in up to 220 sites from Zellers Inc., in an effort to open 100 to 150 Target stores across Canada beginning in 2013. The expansion will bring Target’s broad assortment of unique, high-quality merchandise at exceptional values to Canadian guests coast-to-coast.

Francis began his marketing career in 1985 with Marshall Field’s in Chicago. In 1990,
Marshall Field’s was acquired by Target Corporation, and Francis joined the marketing division of the department stores division, where he held a variety of positions. He was promoted to executive vice president, marketing, for Target Corporation in 2001 and most recently was named chief marketing officer in August 2008.

Francis currently serves on the national board of the Smithsonian Institute and the boards of the Cooper-Hewitt National Design Museum and The Minneapolis Institute of Art. Francis is also lead director of Piper Jaffray Companies. He received his bachelor’s degree in international studies from the University of Michigan.

In his role as chairman, president, chief executive officer, Gregg Steinhafel will continue to oversee all aspects of corporate strategy and operations. Francis will continue to report to Steinhafel.

About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,752 stores in 49 states nationwide and at Target.com. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target’s commitment to corporate responsibility, visit Target.com/hereforgood.

For more information, visit Target.com/Pressroom.