Gregg Steinhafel is chairman of the board, president and chief executive officer of Target Corporation. Target, a Minneapolis-based discount retailer with more than $70 billion in annual revenues, serves guests at 1,778 retail stores in 49 states nationwide, online at Target.com, and by offering credit to qualified guests through branded proprietary credit and debit cards. Steinhafel was named president of Target in 1999 after 20 years with the company in which he held numerous merchandising and operating positions. As president, Steinhafel had companywide responsibility for merchandising, stores, global sourcing, product design and development, presentation, supply chain and Target.com. Steinhafel was named to the board of directors in 2007, became president and chief executive officer in May 2008, and was appointed chairman of the board of directors in January 2009. Steinhafel has been instrumental in developing and promoting Target's unique corporate culture, in which 365,000 talented and diverse team members collaborate and innovate to make Target a fun and convenient shopping experience, providing access to highly differentiated products at affordable prices and sustaining the company's legacy of giving and service. Since 1946, the corporation has given 5 percent of its income to non-profit organizations that support the communities where Target does business. Today, that giving equals more than $4 million a week. In 2012, Ethisphere Institute ranked Target one of the "World's Most Ethical Companies" for the sixth year in a row, and Forbes magazine and the Reputation Institute named Target one of the "World's Most Reputable Companies." In addition to serving on Target's board, Steinhafel also serves on the boards of The Toro Company and TreeHouse, a Minnesota-based non-profit organization. He is a member of the Business Roundtable, Business Council and the Minnesota Business Partnership. In 2010, he was appointed to the Council for the Smithsonian National Museum of African American History and Culture. In 2012, Steinhafel began a two-year term as chairman of the board for the Retail Industry Leaders Association (RILA). Steinhafel was born in Milwaukee, Wis. He graduated from Carroll University in 1977, and in 1979 he earned a masters of business administration degree from Northwestern University's Kellogg Graduate School of Management. Steinhafel is married and has three children.
To generate attractive total returns, the Fund seeks to outperform its benchmark, the Morningstar® Long/Short Commodity Index SM. The Fund...
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