Douglas Dayton
American businessman and philanthropist (1924-2013) / From Wikipedia, the free encyclopedia
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Douglas James Dayton (December 2, 1924 – July 5, 2013) was an American retail executive, businessman, and philanthropist and heir to the Dayton's Company fortune who was the co-founder of the Target discount stores chain. Dayton ran Target's operations during its early years and served as the company's first president. He started his career at the family company: Dayton's department stores.
Douglas Dayton | |
|---|---|
| Born | Douglas James Dayton December 2, 1924 |
| Died | July 5, 2013 (aged 88) |
| Known for | Founding the Target Corporation |
| Children | 3 |
| Relatives | George Dayton (grandfather) Mark Dayton (nephew) Bruce Dayton (brother) |
Dayton served in the Army during World War II, earning a Purple Heart. After the war, he joined the family business, Dayton's department store. He held various positions in the company, and urged the company to take advantage of the emerging discount store market. In 1960, he became the first president of Dayton's new discount subsidiary, Target. He oversaw the company's expansion until 1969 when he became a vice president of Target's parent company after a merger. Dayton left the business in 1972, forming a venture capital firm in 1974. He retired in 1994 but remained active in charity work until his death in 2013.