Target Names Leader of Canada Entry
Target Corp. CFO Michael Francis will serve as the executive committee sponsor of the Minneapolis-based retailer’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, Target’s chairman, president and CEO. “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.
Francis began his marketing career in 1985 with Marshall Field in Chicago. When Target acquired Marshall Field in 1990, Francis joined the marketing division of the department stores division, where he held a variety of positions. He was promoted to Target’s executive VP of marketing in 2001 and was named chief marketing officer in August 2008.
Target operates 1,752 stores in 49 states nationwide.