Form 8-K TARGET CORP For: Jul 14

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) July 14, 2016

 

Target Corporation

(Exact name of registrant as specified in its charter)

 

 

1000 Nicollet Mall, Minneapolis, Minnesota 55403

(Address of principal executive offices, including zip code)

 

(612) 304-6073

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 5.02.                                        Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On July 14, 2016, Target Corporation announced that Timothy R. Baer, Executive Vice President, Chief Legal Officer and Corporate Secretary, will move to a strategic advisory role on August 22, 2016. Accordingly, Mr. Baer will no longer be classified as an executive officer after August 22, 2016. Mr. Baer has agreed to remain employed by Target in this new role on an at-will basis to assist with the transition of his responsibilities and provide advisory services through July 1, 2017, after which he intends to retire.  In this new role, Mr. Baer will continue to receive his current base salary, target bonus opportunity for fiscal year 2016 performance, and other benefits he currently receives.

 

Item 7.01.                                        Regulation FD Disclosure.

 

Target Corporation issued the press release attached as Exhibit 99 to this Form 8-K on July 14, 2016.

 

Item 9.01.                                        Financial Statements and Exhibits.

 

(d)                                 Exhibits.

 

(99)                          Press Release issued July 14, 2016

 

The information furnished in this Item 9.01 shall not be deemed “filed” for any purpose, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation provisions in any such filing.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	TARGET CORPORATION
Date: July 14, 2016	/s/ Stephanie A. Lundquist
	Stephanie A. Lundquist
	Executive Vice President and Chief Human Resources Officer

 

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EXHIBIT INDEX

 

 

4

Exhibit 99

 

 

Media Contact: Katie Boylan (612) 761-7788

Investor Contact: John Hulbert (612) 761-6627

 

Target Names Don Liu as Executive Vice President, Chief Legal Officer and General Counsel

Liu replaces Tim Baer who will retire July 2017

 

MINNEAPOLIS (July 14, 2016) — Target Corporation (NYSE: TGT) today announced Don Liu as executive vice president, chief legal officer and general counsel, effective August 22, 2016. Liu will oversee all legal, corporate governance and government affairs matters for the company. He will report to chairman and chief executive officer Brian Cornell and serve as a member of Target’s leadership team.

 

Liu replaces Tim Baer who will be retiring in July 2017 after 23 years with the company. Baer joined Dayton Hudson as assistant general counsel in 1994. He will serve in an advisory role for the next 12 months, supporting Liu’s transition to Target and ensuring the process is seamless.

 

“Tim’s leadership has been integral to Target’s success and we are grateful for his years of service. In all his years with the company, Tim has been a true guardian of the Target brand, bringing a sharp legal mind and rock-solid judgement to every challenge. He was a trusted voice on our leadership team, managing and mitigating issues and influencing our business during a time of intense change. He also developed a strong team of in-house legal talent and was a respected advisor to our board of directors. On behalf of the entire team, I thank Tim for the tremendous contributions he made to our brand and our business,” said Cornell. “As Tim transitions to retirement, I look forward to welcoming Don to our team. His extensive legal expertise as well as his deep business acumen will help us continue to navigate the increasingly complex business environment with the highest standards of ethics and integrity. I know Don will be an excellent addition to our leadership team.”

 

Liu, 55, joins Target from Xerox Corporation where he has served as executive vice president, general counsel and corporate secretary since 2007. In that role, he was responsible for all of Xerox’s legal and government affairs matters. Prior to Xerox, Liu was senior vice president and chief compliance officer for Toll Brothers, Inc. and senior vice president and general counsel for Ikon Office Solutions. Liu has extensive professional affiliations, including being a member and former chairman of the board of directors for the Minority Corporate Counsel Association and former chair of the in-house counsel committee of the National Asian Pacific American Bar Association.

 

 

“I am privileged to join Target as general counsel. I have long admired Target and the legal team behind the brand. Joining the organization will provide me with an incredible opportunity to bring my passion for the law to one of the great retail companies in America. I look forward to building Target’s business and positively impacting its reputation,” said Liu.

 

About Target

 

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,792 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, which today equals more than $4 million a week. For more information, visit Target.com/Pressroom. For a behind-the-scenes look at Target, visit Target.com/abullseyeview or follow @TargetNews on Twitter.