The weak economy and cautious consumer spending have made it a tough time to take the reins at a major retail company.
Gregg Steinhafel did just that on May 1, when he became the new CEO of Target Corp. He's spent 29 years at the company, working his way up to this top position.
Steinhafel worked closely with his predecessor, Bob Ulrich, who recently stepped down after 14 years as CEO.
Target's earnings results have been soft as consumers spend less. With annual revenue of more than $63 billion, Target is one of Minnesota's largest public companies. It employs 33,000 people in Minnesota, and operates more than 1,600 stores in almost every state.
Steinhafel sat down together with MPR's Tom Crann at Target's downtown Minneapolis headquarters last week for a wide-ranging discussion about the big red retailer, and its challenges in this economy.