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Chairman, president and CEO/ Target Corp.
KEY DEVELOPMENTS: Expanded PFresh remodeling program; improved loyalty by offering 5% discount to Target credit and debit cardholders.
WHAT'S NEXT: Prepare for expansion into Canada.
The past year has been quite productive for Gregg Steinhafel, Target Corp.'s chairman, president and chief executive officer. Target began an aggressive remodeling program in 2010, announced its first foray outside the United States with the acquisition of as many as 220 Zellers store locations in Canada, and enhanced its "REDcard Rewards" program by offering customers a 5% discount almost every time they use their Target debit and credit cards at a store.
The company also made its first-ever public sustainability commitments, and pledged the largest single charitable donation in Target's history - $500 million to support education by the end of 2015.
For competitors in food retailing, the expansion of Target's PFresh remodeling program is the most notable change. In addition to updated merchandising throughout each store, these remodels add an expanded...