Douglas Dayton, who helped transform his family’s department store business into the Target Corporation, died Sunday. He was 88, according to published reports.
Dayton, working in the family’s department store business, was among those concerned about the growth of discount stores. He became first president of Target when The Dayton Company launched its own discount store concept in the early 1960s.
In a statement relayed by the Associated Press, Gregg Steinhafel, Target’s chairman, president and CEO, pointed out that Dayton was crucial to establishing the company’s corporate values and strategic direction.
Minnesota governor Mark Dayton, Douglas Dayton’s nephew, also issued a statement praising his uncle’s abilities as a businessman, philanthropist and family leader.