HDFC Bank vs Target: Founders, CEOs and History
HDFC Bank was founded in 1994 by Hasmukhbhai Parekh and is led by Sashidhar Jagdishan. Target was founded in 1902 by George Dayton and is led by Michael Fiddelke.
Company facts
Founders
HDFC Bank
Hasmukhbhai Parekh
Hasmukhbhai Thakordas (H.T.) Parekh founded Housing Development Finance Corporation (HDFC) in 1977, at age 66, after a long career at ICICI.
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
HDFC Bank
- Aditya Puri1994–2020
Managing Director
Over 26 years as CEO, he built HDFC into India's largest and most highly valued private sector bank, maintaining pristine asset quality throughout multiple economic cycles.
Source - Sashidhar Jagdishan2020–present
Managing Director and Chief Executive Officer
Steered the bank through the RBI technology restrictions and the largest merger in Indian banking, while keeping gross NPAs near 1.2%.
Source - Atanu Chakraborty2021–2026
Part-time Chairman
Former Economic Affairs Secretary who chaired the board through the HDFC Ltd merger; resigned on March 18, 2026, citing ethical concerns. Keki Mistry served as interim chairman until Rajiv Kumar's appointment.
Source - Rajiv Kumar2026–present
Part-time Chairman
He managed the complex post-merger integration processes to ensure the massive combined loan book maintained strict asset quality.
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: HDFC Bank 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.
1994HDFC Bank
HDFC Bank Incorporated
HDFC Bank is incorporated as one of India's new private-sector banks.
1995HDFC Bank
Banking Operations Begin
The bank begins operations and builds a private-sector banking franchise.
2000HDFC Bank
Times Bank Merger
HDFC Bank merges with Times Bank, one of its early scale-building deals.
2000Target
Company becomes Target Corporation
Dayton Hudson changes its name to Target Corporation as the discount chain becomes the center of the company.
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.
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.
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.
2020HDFC Bank
Sashidhar Jagdishan Becomes CEO
Sashidhar Jagdishan succeeds Aditya Puri as managing director and CEO in October 2020.
2020Target
Stores become fulfillment hubs
Target's store-based fulfillment model becomes central to digital growth during the pandemic period.
2023HDFC Bank
HDFC Ltd Merger Completed
HDFC Bank completes the merger with parent HDFC Ltd, creating a much larger banking balance sheet.
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.
2026HDFC Bank
FY2025-26 Net Revenues Reach INR 1,91,218.60 Crore
HDFC Bank reports ~$22.2 billion (INR 1,91,218.60 crore) in net revenues and ~$8.66 billion (INR 74,671.30 crore) in profit after tax.
2026HDFC Bank
Rajiv Kumar Becomes Chairman
After Atanu Chakraborty resigned in March 2026, the RBI approved Rajiv Kumar as part-time chairman effective July 15, 2026.
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
HDFC Bank
- HDFC Ltd. (Reverse Merger)2023Undisclosed
- Centurion Bank of Punjab2008Undisclosed
Questions about HDFC Bank vs Target
Who is the CEO of HDFC Bank Limited and Target Corporation?
HDFC Bank Limited is led by Sashidhar Jagdishan 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 HDFC Bank Limited founded vs Target Corporation?
Target Corporation was founded in 1902 — 92 years before HDFC Bank Limited, which was founded in 1994. Target Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger HDFC Bank Limited.
How many employees does HDFC Bank Limited have compared to Target Corporation?
HDFC Bank Limited employs approximately 211,178 people, while Target Corporation employs approximately 415,000. Target Corporation has the larger workforce at 415,000 employees, compared to HDFC Bank Limited's 211,178. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are HDFC Bank Limited and Target Corporation headquartered?
HDFC Bank Limited is headquartered in India and Target Corporation is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded HDFC Bank Limited and Target Corporation?
HDFC Bank Limited was founded by Hasmukhbhai Parekh. Target Corporation was founded by George Dayton.
Which company has a longer operating history — HDFC Bank Limited or Target Corporation?
Target Corporation has been operating for approximately 124 years, making it the more established of the two companies. HDFC Bank Limited has been in operation for around 32 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 HDFC Bank vs Target overview