SOURCE: Chief Executive Magazine

June 07, 2007 11:00 ET

Chief Executive Magazine Names Target CEO Robert J. Ulrich "CEO of the Year"

MONTVALE, NJ--(Marketwire - June 7, 2007) - Chief Executive magazine today announced that Robert J. Ulrich, CEO, Target, has been selected by his peers as "CEO of the Year." He joins an impressive group of past winners including: Michael Dell, Dell, Inc.; Herb Kelleher, Southwest Airlines; Andrew Grove, Intel; Roberto C. Goizueta, Coca-Cola; and Jack F. Welch, General Electric. Ulrich will be presented with the CEO of the Year award at a dinner at the New York Stock Exchange on August 1, 2007.

"A distinguished panel of peers selected Bob Ulrich as the CEO of the Year not only for his sustained performance but also for his commitment to developing people," said J.P. Donlon, editor-in-chief of Chief Executive magazine. "Over the past 20 years, Bob and his team reinvented the norms of the discount retail industry through breakaway creativity and design and an unparalleled dedication to customers."

Ulrich's nomination was a unanimous decision by the selection panel, which was chaired by A.G. Lafley, CEO, Procter & Gamble, and the magazine's 2006 CEO of the Year.

Ulrich and his executive team have led Target to deliver outstanding performance by fostering a culture of constant innovation and a commitment to great design. Target is known for its innovative partnerships with upscale designers to produce high-quality, affordable products, and for a team committed to delivering an overall shopping experience that delights guests.

"Target's long record of consistent performance and growth reflects the innovation and discipline of thousands of Target team members and their unwavering commitment to please our guests every day," Ulrich said. "With this award, Chief Executive magazine recognizes the importance of their contributions and collaboration with our partners around the world."

A staunch supporter of diversity and community initiatives, Ulrich has led Target to reach new milestones over the years. The company's community giving program, which has contributed five percent of income since 1946, has now reached a remarkable level of $3 million per week. Moreover, in 2006, Target team members and retirees donated more than 315,000 hours of service and completed more than 7,000 community-based projects in the areas of education, the arts, and safe families and communities. Key programs include: Take Charge of Education, a school fund-raising initiative that has contributed more than $200 million to approximately 108,000 schools across the country in the past ten years, and sponsorship of more than 1,500 free days annually at major cultural and arts institutions to make arts accessible and affordable to families and children.

"Bob embodies all the important leadership skills of a CEO," said Edward M. Kopko, CEO of Chief Executive Group. "He is an inspirational leader with a strong work ethic and a genuine devotion to his team members, guests and the communities in which they live. He is a model of excellence and we are proud to have him join the outstanding leaders who have previously been honored with this award."

About Chief Executive Magazine

Chief Executive is a controlled circulation magazine that has been published since 1977. It reaches 42,025 chief executive officers and their peers, reaches a total readership of 228,000, and is published 8 times a year. Chief Executive Group facilitates "Chief Executive of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers. Fred Smith, Hank Greenberg, Bill Gates, John Chambers, Michael Dell and Sandy Weill are just some of the leaders who have been honored during the award's 21-year history. Chief Executive also organizes roundtable meetings and conferences to foster opportunities for top corporate officers to discuss key subjects and share their experiences within a community of peers. Visit www.chiefexecutive.net for more information.

About Target Corp.

Target Corporation's operations include large, general merchandise discount stores and a fully integrated on-line business through which we offer a fun and convenient shopping experience with thousands of highly differentiated and affordably priced items. The company currently operates 1,500 Target stores in 47 states. Target Corporation news releases are available at www.target.com.

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