Target Corporation has recently announced that the company’s chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entry 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 US.
“Under the leadership of Francis, Target has emerged as one of the most recognisable brands in the world and I am pleased that he will guide our expansion into Canada,” said Gregg Steinhafel, chairman, president and chief executive officer, Target Corporation. “With over 25 years of experience with this corporation, Francis 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.”
Francis began his marketing career in 1985 with Marshall Field’s in Chicago. In 1990, Marshall Field’s was acquired by Target Corporation, and Francis joined the marketing division of the department stores division, where he held a variety of positions. He was promoted to executive vice president, marketing, for Target Corporation in 2001 and most recently was named chief marketing officer in August 2008.
In his role as chairman, president, chief executive officer, Gregg Steinhafel will continue to oversee all aspects of corporate strategy and operations. Francis will continue to report to Steinhafel.
Target Corporation has also announced it has agreed to pay 1.825 billion Canadian dollar to purchase from Zellers Inc, a subsidiary of the Hudson’s Bay Company (HBC), the leasehold interests in up to 220 sites currently operated by Zellers Inc. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.
– IndiaRetailing Bureau