US retailer Target has appointed Gregg Steinhafel, president and chief executive officer, to the additional role of chairman of the board.

Steinhafel will assume the additional responsibilities of chairman next month, when he will succeed current chairman Bob Ulrich, who will retire from the boar.

We are completely confident in Gregg's leadership and his ability to build on Bob Ulrich's legacy by continuing to deliver a superior guest experience, enhancing Target's team culture, reinforcing the company's strong commitment to its communities and positioning Target to generate profitable growth for many years to come," Jim Johnson, vice chairman of the executive committee of Target's board, commebted.

Steinhafel joined Target in 1979 and, having served in various roles in the company, in May 2008 he succeeded Ulrich as chief executive officer.