Cardinal Health vs Target: Founders, CEOs and History
Cardinal Health was founded in 1971 by Robert D. Walter and is led by Jason M. Hollar. Target was founded in 1902 by George Dayton and is led by Michael Fiddelke.
Company facts
Cardinal Health
- Founded
- 1971
- Headquarters
- Dublin, Ohio, United States
- Current CEO
- Jason M. Hollar
- Employees
- 63,900
Target
- Founded
- 1902
- Headquarters
- Minneapolis, Minnesota
- Current CEO
- Michael Fiddelke
- Employees
- 415,000
Founders
Cardinal Health
Robert D. Walter
Cardinal Health possesses a unique and unexpected founding history: the pharmaceutical distributor was not founded by a doctor or a pharmacist, but rather by an ambitious entrepreneur attempting to consolidate the wholesale food industry.
Target
George Dayton
George Draper Dayton became a partner in Goodfellow's Dry Goods Company, one of the largest department stores in Minneapolis, in 1902, and became sole owner and president within a year, renaming it the Dayton Dry Goods Company.
CEOs and their tenures
Cardinal Health
- Robert D. Walter1971–2006
Founder, Chairman, and CEO
Walter founded Cardinal Health in 1971 as a food wholesaler and pivoted to pharmaceutical distribution in 1979. He executed dozens of acquisitions that transformed the company from a small regional distributor into a $50+ billion healthcare conglomerate.
Source - Kerry Clark2006–2009
Chairman and CEO
Clark led Cardinal Health through a period of strategic repositioning, including the spin-off of the CareFusion medical technology business. He focused on improving operational efficiency and addressing the challenges of the post-Walter era.
Source - George Barrett2009–2017
Chairman and CEO
Barrett led Cardinal Health through significant strategic initiatives including the acquisition of the Patient Recovery business from Medtronic ($6.1 billion) and the establishment of the Red Oak Sourcing joint venture with CVS Health.
Source - Mike Kaufmann2018–2022
CEO
Kaufmann led Cardinal Health through the opioid litigation settlement and the COVID-19 pandemic, which created demand for medical supplies and pharmaceuticals. He focused on operational execution and maintaining supply chain continuity during the crisis.
Source - Jason M. Hollar2022–present
CEO
Hollar joined Cardinal Health as CFO in 2020 and became CEO in September 2022. He has led the company through the OptumRx contract exit, the GMPD improvement plan, and acquisitions including GI Alliance, ADSG, and Solaris Health.
Source
Target
- Robert J. Ulrich1994–2008
Chairman and CEO
Under Ulrich Target grew into the second-largest US discount retailer, built its design-partnership model with designers such as Michael Graves, and added the Super Target format. He retired as chief executive in 2008 and was succeeded by Gregg Steinhafel.
Source - Gregg Steinhafel2008–2014
Chairman, President and CEO
Steinhafel resigned in May 2014 after the data breach and the poor results of Target Canada, which the company closed in 2015 after losses. Brian Cornell succeeded him later in 2014.
Source - Brian Cornell2014–2026
Former Chairman and CEO
Cornell's tenure ended amid a stock and sales slump, with revenue declining for three consecutive fiscal years (from $107.412 billion in FY2023 to $104.780 billion in FY2025) even as the omnichannel infrastructure he built began paying off in the following qua…
Source - Michael Fiddelke2026–present
Chief Executive Officer
Fiddelke inherited a company coming off three straight years of revenue decline. His first two quarters as CEO delivered growth: Q1 FY2026 net sales rose 6.7% and Q2 FY2026 net sales rose 5.3% to $26.5 billion, with comparable traffic up 3.6%.
Source
Timeline: Cardinal Health and Target side by side
1902Target
Dayton Company is founded
George Dayton becomes a partner in Goodfellow's Dry Goods Company in Minneapolis in 1902, then sole owner in 1903, renaming it Dayton Dry Goods Company -- the business that eventually becomes Target Corporation.
1962Target
First Target store opens
The first Target discount store opens in Roseville, Minnesota.
1971Cardinal Health
Cardinal Foods Founded by Robert D. Walter
Robert D. Walter, a 26-year-old Harvard MBA graduate, borrowed $1.3 million to acquire the food-distribution division of Consolidated Foods in a leveraged buyout, establishing Cardinal Foods in Columbus, Ohio.
1979Cardinal Health
Pivot to Pharmaceutical Distribution
Walter acquired Bailey Drug Co., a pharmaceutical distributor in Zanesville, Ohio, marking Cardinal's entry into pharmaceutical distribution.
1983Cardinal Health
Cardinal Distribution Goes Public
Cardinal Distribution Inc. completed its initial public offering on the NASDAQ at $1.03 per share, providing capital for continued expansion through acquisitions.
1984Cardinal Health
Acquisition of Ellicott Drug
Cardinal acquired Ellicott Drug, a pharmaceutical distributor in Buffalo, New York, continuing the acquisition-driven expansion strategy that would define the company's growth for decades.
1988Cardinal Health
Sale of Food Operations to Roundy's Inc.
Cardinal sold its remaining food operations to Roundy's Inc., completing the company's transition from a diversified food and drug distributor to a pure-play pharmaceutical distribution company.
1994Cardinal Health
Name Change to Cardinal Health
The company changed its name from Cardinal Distribution to Cardinal Health, reflecting its expanding mission beyond pure distribution into healthcare services, manufacturing, and technology. Revenues exceeded $1 billion by 1991.
1995Cardinal Health
Acquisition of Medicine Shoppe International
Cardinal acquired Medicine Shoppe International, the country's largest franchise of retail pharmacies, marking the company's first significant non-distribution acquisition and entry into retail pharmacy.
1996Cardinal Health
Acquisition of Pyxis Corp.
Cardinal acquired Pyxis Corp., a manufacturer of automated supply and pharmaceutical dispensing systems for hospitals, adding medical technology capabilities to the company's portfolio.
1999Cardinal Health
Acquisition of Allegiance Healthcare Corp.
Cardinal acquired Allegiance Healthcare Corp. for approximately $4.4 billion, becoming a major player in the medical-surgical products market and establishing the foundation for what would become the Global Medical Products and Distribution segment.
2000Target
Company becomes Target Corporation
Dayton Hudson changes its name to Target Corporation as the discount chain becomes the center of the company.
2013Cardinal Health
Red Oak Sourcing Joint Venture with CVS
Cardinal Health and CVS Caremark announced the creation of Red Oak Sourcing, a 50/50 joint venture to form the largest generic pharmaceutical sourcing entity in the United States. The venture began operations in July 2014 with an initial 10-year term.
2013Target
Target Data Breach
Target discloses a data breach affecting more than 40 million customer payment cards during the holiday shopping season, becoming one of the most-cited cybersecurity failures in US retail history.
2014Cardinal Health
Loss of Walgreens Contract
Cardinal Health lost a major pharmaceutical distribution contract with Walgreens, which shifted its distribution to AmerisourceBergen. The contract had generated $3.3 billion in quarterly revenue.
2014Target
Dermstore Acquired
Target acquires online beauty retailer Dermstore to expand its e-commerce beauty business; it sells the unit to THG for $350 million in 2021.
2015Target
Target Exits Canada
Target announced in January 2015 that it would close all of its Canadian stores, ending an expansion that began in 2013.
2017Cardinal Health
Acquisition of Patient Recovery Business from Medtronic
Cardinal Health acquired the Patient Recovery business from Medtronic for $6.1 billion, expanding its medical products portfolio and adding significant scale to the Global Medical Products and Distribution segment.
2017Target
Target acquires Shipt and Grand Junction
Target acquires same-day delivery platform Shipt for about $550 million and transportation-technology startup Grand Junction, accelerating omnichannel fulfillment.
2020Target
Stores become fulfillment hubs
Target's store-based fulfillment model becomes central to digital growth during the pandemic period.
2024Cardinal Health
OptumRx Contract Non-Renewal Announced
Cardinal Health's pharmaceutical distribution contracts with OptumRx (part of UnitedHealth Group) expired at the end of June 2024 and were not renewed. They represented about $38.1 billion of fiscal 2024 revenue.
2025Cardinal Health
Fiscal 2025 Results and Raised FY2026 Guidance
Cardinal Health reported fiscal 2025 revenue of $222.6 billion, down about 2% after the OptumRx contract expiration, while net earnings rose to about $1.6 billion.
2025Target
Michael Fiddelke named next CEO
Target announces that Michael Fiddelke will succeed Brian Cornell as CEO effective February 1, 2026, after 22 years rising through the company including as CFO and COO.
2026Cardinal Health
Fiscal 2026 Revenue Reaches $254.2 Billion
Fiscal 2026 revenue rose 14% to $254.2 billion and non-GAAP EPS rose 37% to $11.26, with profit growth in all five operating segments.
2026Target
FY2025 revenue is reported
Target reports FY2025 revenue of $104.780B and net income of $3.705B, the third consecutive year of revenue decline.
2026Target
Q1 FY2026 sales rebound
Target reports Q1 FY2026 net sales growth of 6.7% and comparable sales growth of 5.6% under new CEO Michael Fiddelke.
2026Target
Q2 FY2026 growth and raised outlook
Target reports Q2 FY2026 net sales of $26.5B (+5.3%), comparable sales growth of 3.8% and raises full-year guidance to about 5% sales growth.
Acquisitions
Cardinal Health
- Advanced Diabetes Supply Group (ADSG)2025$1.1B
- Solaris Health (via The Specialty Alliance)2025$1.9B
- Integrated Oncology Network (ION)2024Undisclosed
- GI Alliance (71% stake)2024$2.8B
- Patient Recovery Business from Medtronic2017$6.1B
- Allegiance Healthcare Corp.1999Undisclosed
Questions about Cardinal Health vs Target
Who is the CEO of Cardinal Health, Inc. and Target Corporation?
Cardinal Health, Inc. is led by Jason M. Hollar and Target Corporation is led by Michael Fiddelke. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Cardinal Health, Inc. founded vs Target Corporation?
Target Corporation was founded in 1902 — 69 years before Cardinal Health, Inc., which was founded in 1971. Target Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Cardinal Health, Inc..
How many employees does Cardinal Health, Inc. have compared to Target Corporation?
Cardinal Health, Inc. employs approximately 63,900 people, while Target Corporation employs approximately 415,000. Target Corporation has the larger workforce at 415,000 employees, compared to Cardinal Health, Inc.'s 63,900. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Cardinal Health, Inc. and Target Corporation headquartered?
Both Cardinal Health, Inc. and Target Corporation are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Cardinal Health, Inc. and Target Corporation?
Cardinal Health, Inc. was founded by Robert D. Walter. Target Corporation was founded by George Dayton.
Which company has a longer operating history — Cardinal Health, Inc. or Target Corporation?
Target Corporation has been operating for approximately 124 years, making it the more established of the two companies. Cardinal Health, Inc. has been in operation for around 55 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Cardinal Health vs Target overview