Target adds former 7-Eleven CEO to its board

Target Corporation (TGT) announced that it elected the former president and chief executive officer of 7-Eleven to the board of directors. The appointment of Joe DePinto was said to mark another step the retailer is taking to accelerate its enterprise strategy and fuel new growth under CEO Michael Fiddelke.

DePinto was highlighted as bringing more than three decades of leadership experience across retail and consumer products, having led the world's largest convenience retailer through significant expansion, digital innovation, and evolving consumer preferences. During his tenure, 7-Eleven accelerated investments in omnichannel capabilities, loyalty programs, and fresh food offerings while growing its store footprint and strengthening its position as a leading convenience retailer.

DePinto has also held leadership roles at PepsiCo (PEP) and GameStop (GME) and brings public company governance expertise from boards including Brinker International (EAT), Jo-Ann Stores, and OfficeMax.

"At Target, we're leading with merchandising authority, elevating the guest experience, accelerating technology, and strengthening our team and communities to pave a new path of growth," stated Fiddelke. "Joe has spent his career relentlessly focused on the customer, empowering teams, and delivering operational excellence. His perspective and experience in retail, with a particular emphasis in food and digital commerce, will be a tremendous asset to our Board as we continue building momentum against our strategy," he added about the appointment.

Shares of Target (TGT) were up 0.4% in premarket trading on Wednesday. The stock is up more than 40% on a year-to-date basis.