Bob Ulrich

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For other people named Robert Ulrich, see Robert Ulrich (disambiguation).
Bob Ulrich
Born 1944
Minneapolis, Minnesota
Occupation chief executive officer
and chairman of
Target Corporation
Salary $8.06 million USD

Robert J. Ulrich (born 1944) is the former chief executive officer and chairman of the Target Corporation, the second-largest retailer in the United States. Ulrich is credited with crafting Target's unique brand and marketing image and focus, which is widely considered to be a key contributor to the company's growth and success in the challenging retailing industry.

Biography[edit]

Ulrich was born in 1944, in Minneapolis, Minnesota, the son of a 3M executive. He graduated from the University of Minnesota in 1967, and moved quickly into the retailing business. He began his career with Dayton Hudson Corporation (which would become Target Corporation in 2000). Until 1981, Ulrich held a series of positions overseeing merchandising for Dayton Hudson, including overseeing merchandising for Dayton's Department Stores. In 1981, he moved to overseeing the operations of Dayton's subsidiary, Diamond's Department Stores.[1] He currently resides in the Twin Cities Metro Area.

Building Target[edit]

In 1984, Ulrich became president of the Target Stores group within Dayton Hudson, and he began leading significant growth for the division. In 1987, he was promoted to chairman and chief executive officer of the Target Stores group. By 1992, the number of Target Stores had doubled during Ulrich's tenure, to just over 500, with just shy of fifty more opening each year.

In 1994, Kenneth Macke retired as chairman and chief executive of Target's parent company, Dayton Hudson Corporation, and Ulrich succeeded him in the position. Dayton Hudson had grown to encompass several store chains, including Dayton's, Hudson's, Mervyn's, and Marshall Field's, in addition to Target.

Over time, Target began to far eclipse the success of the other Dayton Hudson stores, and on January 13, 2000, Dayton Hudson took the name Target Corporation. Ulrich sold the other store groups, including Mervyn's and Marshall Field's, and focused on promoting the Target brand.[2]

Today[edit]

Ulrich continues to oversee strong financial and market success at Target. During its most recent full fiscal year, Target saw a 31% increase in earnings per share from continuing operations. Target's strong financial performance led Warren Buffett's Berkshire Hathaway to recently purchase 5.5 million of Target's shares, a move that was widely considered a strong endorsement of Target's potential for continued success, especially considering that Berkshire Hathaway has long been a holder of Target's rival Wal-Mart's shares.[3]

Achievements[edit]

Bob Ulrich was awarded "CEO of the Year 2007" by Chief Executive Magazine

See also[edit]

References[edit]

  1. ^ Discount Store News, via FindArticles: "Bob Ulrich, Chairman, CEO," last retrieved December 5, 2006.
  2. ^ Answers.com: "Robert J. Ulrich: Information," last retrieved December 5, 2006.
  3. ^ The Associated Press via MSN Money: "Target Rises on Berkshire News," last retrieved December 5, 2006.