About Steinhafel: Was named president of Target in 1999 after 20 years with the company, in which he held numerous merchandising and operating positions. Steinhafel was named to the board of directors in 2007, became CEO in May 2008 and was appointed chairman in January 2009.
Personal file: Born in Milwaukee, Steinhafel graduated from Carroll University in 1977 and earned an MBA from Northwestern University two years later. He is a board member for Toro Co. and chairman of the Retail Leaders Industry Association. He is married with three children.
What’s big in 2014: The challenge of continuing to transform Target into a multichannel digital retailer while repairing the company’s credibility with Wall Street and consumers. For Target to reach its goal of $6 billion in annual sales from Canada by 2017, Steinhafel must get the supply chain back in order and convince consumers that Target’s prices are just as good if not better than competitors. Back in the U.S., Steinhafel must deal with the continuing fallout from the massive security breach.
Final word: “This fundamental change in the way people live, research and shop presents a compelling opportunity to gain market share. We fully recognize that we live in a multichannel world, and we are firmly committed to being a multichannel business.”