Target Vice Chairman Resigns

Minneapolis, In a sudden move and with no published explanation, Target Corp. vice chairman Gerald Storch has left the company. Viewed as a possible successor to CEO Robert Ulrich, Storch has given no public reason for his departure.

In a statement released from Target at 6 pm yesterday evening, the company announced Storch's departure, effective immediately, and wished him "the best in his future endeavors."

Storch oversaw Target's efforts to revitalize Mervyn's, Target's entry into the grocery business, its credit operations and its e-commerce operations.