$65.3 billion retail chain Target Corporation has appointed Wells Fargo & Company chairman, president, and CEO, John Stumpf, to its board of directors. He has not been assigned to any committee at this time.
Stumpf is a 28-year veteran at Wells Fargo, having joined the former Norwest Corporation (predecessor of Wells Fargo) in 1982. He was named CEO in June 2007, elected to Wells Fargo's board of directors in June 2006, and has been president since August 2005. He became chairman at Wells Fargo in January 2010.
He will replace George Tamke, who retired from the board on March 9, having served on the board since 1999. Tamke is a partner at Clayton, Dubilier, & Rice, a private investment firm.
In other news, Target also announced that Richard Kovacevich, former Chairman and CEO of Wells Fargo & Company, intends to retire from Target's board of directors on Dec. 31. Kovacevich has served on Target's board since 1996.
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