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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): November 11, 2026
Target Corporation
(Exact name of registrant as specified in its charter) | | | | | | | | | | | | | | |
| Minnesota | | 1-6049 | | 41-0215170 |
| (State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | | | | | | | | | | | | | |
| 1000 Nicollet Mall, | Minneapolis, | Minnesota |
| 55403 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (612) 304-6073
Not Applicable
(Former name or former address, if changed since last report.)
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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: | | | | | | | | | | | | | | |
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common stock, par value $0.0833 per share | | TGT | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| | | | | |
| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 11, 2026, the Board of Directors of Target Corporation (“Target”) elected Sally Grimes as a director of Target, effective as of December 1, 2026. Ms. Grimes was also appointed to serve on the Audit & Risk Committee and the Infrastructure & Finance Committee, each also effective as of December 1, 2026.
Ms. Grimes, 55, formerly served as Chief Executive Officer, North America, at Diageo plc, a position she held from September 2023 to March 2026. From May 2020 to February 2023, she was Chief Executive Officer of Clif Bar & Company. Prior to that, Ms. Grimes held other senior leadership positions at Tyson Foods, Inc., including as Group President, Prepared Foods; President, Retail; and Chief Global Growth Officer. Ms. Grimes previously served on the board of directors of Beyond Meat, Inc. from May 2021 to May 2024.
There are no arrangements or understandings between Ms. Grimes and any other person pursuant to which Ms. Grimes was selected as a director of Target. There are no related person transactions within the meaning of Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission between Ms. Grimes and Target.
Ms. Grimes will receive the annual compensation that Target provides to its non-employee directors as described in Target’s proxy statement.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. | | | | | | | | |
| 99 | | Target Corporation News Release dated November 12, 2026. |
| 104 | | Cover Page Interactive Data File (formatted as inline XBRL). |
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: November 12, 2026 | By: | /s/ Grant B. McGee |
| | Name: Grant B. McGee |
| | |
| | Title: Executive Vice President and Chief Legal and Compliance Officer |
Exhibit 99
Target Appoints Sally Grimes to Board of Directors
•Grimes is former CEO of Diageo North America, Clif Bar & Company, and Group President at Tyson Foods, bringing extensive experience across consumer brands, innovation, brand building and business transformation.
•Her expertise leading major businesses and partnering with retailers brings additional perspective as Target leads with merchandising authority and elevates its guest experience.
•In joining the board, Grimes will serve on the Audit & Risk and Infrastructure & Finance committees.
•This appointment is another step in accelerating CEO Michael Fiddelke’s strategy to build the retailer’s next chapter of growth.
MINNEAPOLIS (Nov. 12, 2026) – Target Corporation (NYSE: TGT) today announced that its Board of Directors has elected Sally Grimes as a new independent director, adding experience leading consumer brands, driving innovation and partnering with retailers to create long-term growth.
Grimes is an accomplished executive, having led established and emerging brands through periods of change and growth, with significant experience in innovation and business transformation. She most recently served as CEO North America for Diageo, following her roles as CEO of Clif Bar & Company and Group President at Tyson Foods. Throughout her career, she also built valuable perspective in partnering with retailers to meet consumer needs and business goals. Upon joining Target’s Board, she will serve on the Audit & Risk and Infrastructure & Finance committees.
“Sally has built her career at the intersection of consumer insight, innovation and growth, helping some of the world's most recognized brands anticipate changing needs and bring new ideas to market,” said Michael Fiddelke, Target CEO. “As we sharpen our merchandising authority and continue advancing our strategy, her experience turning consumer trends into compelling products and brands will bring valuable perspective to our Board.”
“An effective Board benefits from leaders who bring different experiences and ways of thinking,” said Christine Leahy, Target’s lead independent director. “Sally combines deep consumer understanding with a track record of innovation, enterprise leadership and business acceleration. That combination complements the strengths already around our board table and
will be a valuable addition as we provide oversight and counsel on Target’s long-term strategy and growth.”
Grimes also brings public and private company board experience, including service on the boards of Continental Grain Company and Beyond Meat. She currently serves as Executive Director of Knowing NOAH, The Noah John Grimes Family Foundation.
About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.
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