Target Founder Douglas Dayton Dies At 88 (Update) UPDATE The Target Racing Program, which began with Target and Chip Ganassi Racing in 1990, reached the 100-win mark today in Pocono with Scott Dixon’s win at Pocono Raceway. The first win for the program came in 1994 with Michael Andretti’s Indy car victory at Surfers Paradise, Australia when the team was just a two-car open wheel program. Ninety nine wins later, the program’s umbrella includes involvement in not only in the IZOD IndyCar Series, but in the NASCAR Sprint Cup Series and the GRAND-AM Rolex Sports Car Series. The partnership between Target and Chip Ganassi Racing is one of the longest consecutive team partnerships in motor racing history.
Chip Ganassi, Owner, Chip Ganassi Racing:
“As one of the longest consecutive team partnerships in motor racing history, we’re thrilled to celebrate this 100th win with Target. We’re looking forward to the next 100 wins.”
Mark Schindele, Senior Vice President - Merchandising Operations, Target: 07/07/13 Douglas Dayton, who led the transformation of a family department store into retailing giant Target Corp., has died at the age of 88.
“Our 24-year-long partnership and 100 racing wins with Chip Ganassi Racing is truly a remarkable milestone. It’s just another finish line we’ve crossed together!”
Dayton's wife, Wendy Dayton, confirmed his death Sunday. She said the resident of Wayzata, west of Minneapolis, died Friday after a long battle with cancer.
Douglas James Dayton was the youngest of George Nelson Dayton's five sons who took over the family's downtown Minneapolis department store from their father in 1948. Douglas Dayton started working in the family business after serving in an Army infantry division in Europe during World War II, where he was injured and received a Purple Heart.
Having worked as a store manager, Dayton sensed the threat posed by discount retailers such as Kmart. In 1960, he became the first president of Target, and within two years, the company had opened four Target stores in the Twin Cities suburbs.
"Target was the best job I had," he recalled in a May interview with the (Minneapolis) Star Tribune.
His nephew, Minnesota Gov. Mark Dayton, issued a statement calling Douglas Dayton "an extraordinary businessman, philanthropist, and leader of our family."
Target released a statement Sunday from current President and CEO Gregg Steinhafel praising integral Dayton's role in the company's origins.
"Doug was instrumental in helping to guide the strategic direction of Dayton Hudson Corporation for many years and institutionalize the values that are at the heart of Target Corporation today," Steinhafel said.
According to an obituary prepared by his family, Douglas Dayton left the Target presidency in 1968 and returned to help run the Dayton Hudson department store parent company. That business eventually was consolidated into Target Corp.
The company has expanded nationally and into Canada, and is now ranked No. 36 on the Fortune 500. The Dayton family has not been involved in its ownership or operations for a number of years. Most of the former Dayton's department stores in Minnesota are today operated by Macy's.
Dayton left the company in 1974 and formed a venture capital firm. He retired in 1994 but remained active in a number of charitable and philanthropic groups.
"He and his brothers shared a common vision for improvement to the community, and to give back what the community had given them," Wendy Dayton said Sunday. She said he focused his philanthropic efforts on expanding access to education and social justice, and to preservation of the arts and nature.