UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 1, 2011
Target Corporation
(Exact name of registrant as specified in its charter)
Minnesota |
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1-6049 |
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41-0215170 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
1000 Nicollet Mall, Minneapolis, Minnesota 55403
(Address of principal executive offices, including zip code)
(612) 304-6073
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 1, 2011 Target Corporation announced that Douglas A. Scovanner, Executive Vice President and Chief Financial Officer, will retire on March 31, 2012. A copy of Targets press release announcing this event is attached as Exhibit 99.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
(99) Target Corporations News Release dated November 1, 2011
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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TARGET CORPORATION | |
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Date: November 1, 2011 |
/s/ Timothy R. Baer |
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Timothy R. Baer | |
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Executive Vice President, General Counsel | |
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and Corporate Secretary |
EXHIBIT INDEX
Exhibit |
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Description |
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Method |
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(99) |
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Target Corporations News Release dated November 1, 2011 |
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Filed Electronically |
Exhibit 99
FOR IMMEDIATE RELEASE
Contacts: Susan Kahn, Target Communications, (612) 761-6735
Target Media Hotline, (612) 696-3400
John Hulbert, Investor Relations, (612) 761-6627
Target EVP & CFO Scovanner to Retire in 2012
MINNEAPOLIS (Nov. 1, 2011) Target Corporation (NYSE: TGT) announced today that Doug Scovanner will retire as Executive Vice President and Chief Financial Officer on March 31, 2012. No successor has yet been named, though Targets reputation for attracting and developing exceptional talent throughout its organization has resulted in a strong leadership bench. To facilitate a smooth transition, Mr. Scovanner will remain in his current role for the next five months.
Throughout his tenure with the company, Doug has been a valuable partner in developing and executing our strategy, said Gregg Steinhafel, Chairman, President and CEO. He has made many significant contributions to Target, and as a result of his financial leadership, Target continues to deliver outstanding sales and earnings growth and generate superior returns for our shareholders. I am grateful that we will continue to benefit from his experience and expertise during this extended transition timeframe.
Mr. Scovanner began his career at Dayton Hudson Corporation in February 1994 as Senior Vice President, Finance. He became Chief Financial Officer later that year and was named to his current role as EVP and CFO in 1999.
With Targets strong core business and clear strategies for expansion, its prospects for continued profitable growth have never been brighter, said Doug Scovanner. I feel extremely fortunate to have played a role in guiding the financial and strategic direction
of this company over the years and I am committed to ensuring a seamless transfer of responsibilities to my successor.
About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,767 stores across the United States and at Target.com. The company plans to open its first stores in Canada in 2013. 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 Targets commitment to corporate responsibility, visit Target.com/hereforgood.
For more information, visit Target.com/Pressroom.
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