Bob Ulrich

Infobox_Celebrity


image_size = 150px
name = Bob Ulrich
birth_date = 1944
birth_place = Minneapolis, Minnesota
death_date =
death_place =
occupation = chief executive officer
and chairman of
Target Corporation
salary = $8.06 million USD
networth =

Robert J. Ulrich (born 1944) is the former chief executive officer and chairman of the Target Corporation, the sixth-largest retailer in the United States. Ulrich is considered to be a significant force in businessfact|date=July 2007, and 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 success in the challenging retailing industry.

Biography

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 later 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. [Discount Store News, via FindArticles: " [http://www.findarticles.com/p/articles/mi_m3092/is_n23_v34/ai_17818368 Bob Ulrich, Chairman, CEO] ," last retrieved December 5, 2006.]

Building Target

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. [Answers.com: " [http://www.answers.com/topic/robert-j-ulrich Robert J. Ulrich: Information] ," last retrieved December 5, 2006.]

Today

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. [The Associated Press via MSN Money: " [http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&Date=20061031&ID=6153342 Target Rises on Berkshire News] ," last retrieved December 5, 2006.]

Achievements

Bob Ulrich was awarded " [http://www.chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&AudID=257093CD337F495B86A6A07046702F8C&tier=4&id=C8057BAE95B3406993ED2EA615F4E84D CEO of the Year 2007] " by Chief Executive Magazine

ee also

* Target Corporation

References