Bruce Dayton

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Bruce Dayton
Born(1918-08-16)August 16, 1918
George Draper Dayton (Grandfather) and Douglas Dayton
(Brother)

Bruce Bliss Dayton (August 16, 1918 – November 13, 2015) was an American retail executive, businessman, heir to the

Dayton Hudson Corporation, the company now known as the Target Corporation, before becoming the chairman of Dayton Hudson from 1970 to 1977.[2][3]

He also founded the

U.S. Senator from Minnesota, Mark Dayton.[1] Dayton was a Republican donor.[4]

Life and career

Dayton was born in

V-E Day.[1]

He started working at the Dayton Company, the family’s retail company, in 1940 in the merchandise receiving room.

discount retailer.[2][3] Together, the brothers, would expand both into national retail chains.[1]

In 1967, the Dayton Co. went public with its

Dayton Hudson Corporation.[2] Bruce Dayton, described as the more "financially-oriented" brother, oversaw the company with a focus on profits and the bottom line.[2]

Bruce Dayton became the Dayton Hudson Corporation's chairman in 1970.[2] His brother, Kenneth N. Dayton, succeeded Bruce Dayton as the company's CEO.[2] In 1975, their Target store chain surpassed Dayton Hudson's more traditional departments stores as the company's top revenue earner.[2] Bruce Dayton left the management of the company in 1977 but remained on the board of directors until 1983.[3]

In 1983, Bruce Dayton and his brother, CEO Kenneth N. Dayton, both retired from the company's board of directors, ending the 80-year day-to-day direct ownership by the Dayton family.[2][3] The company, which changed its name to the Target Corporation, is no longer owned or operated by the Dayton family.[2]

The Dayton Hudson Corporation sold B. Dalton, the bookstore chain founded by Bruce Dayton, to Barnes & Noble in 1986 for an estimated $275 million.[2]

Bruce Dayton continued his work in philanthropy after stepping down from Dayton Hudson in 1983.[2] He served as a trustee of the Minneapolis Institute of Art (Mia) for 73 years and donated more than $80 million to the museum.[2] In 2009, The New York Times referred to Bruce Dayton as "a dean of American corporate arts philanthropy."[2]

Bruce Dayton died at his home in Orono, Minnesota, on November 13, 2015, at the age of 97.[1][2][3] He was survived by his wife, Ruth Stricker Dayton; two sons, Governor of Minnesota Mark Dayton and Brandt Dayton; two daughters, Lucy Dayton (Mark O'Keefe) and Anne Dayton; two step-children. The governor's office said Bruce Dayton "is survived by his wife, Ruth Stricker Dayton; his four children, Mark Dayton, Brandt Dayton (Tian), Lucy Dayton (Mark O'Keefe), and Anne Dayton; two step-children, Kim Griffin (Robert) and Mark Stricker; eleven grandchildren; and two great-grandchildren."[2][5]

References

  1. ^ a b c d e f g "Bruce Dayton, scion of Minnesota retail family that founded Target, dies at 97". Los Angeles Times. October 13, 2015. Retrieved November 15, 2015.
  2. ^ a b c d e f g h i j k l m n o p q r s t u v w Miller, Stephen (October 13, 2015). "Bruce Dayton, CEO of Retailer That Became Target, Dies at 97". Bloomberg News. Retrieved November 15, 2015.
  3. ^ a b c d e f g h Roberts, Sam (October 13, 2015). "Bruce B. Dayton, Minnesota Retailer and Arts Patron, Dies at 97". The New York Times. Retrieved November 15, 2015.
  4. ^ "Gov. Dayton's dad gives to Republican Parry for Congress". MPR News. Retrieved November 25, 2021.
  5. ^ MinnPost article by Joe Kimball; November 13, 2015
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