Doug Scovanner, a 1977 graduate of Washington and Lee, was honored by the Minneapolis-St. Paul Business Journal when he received the Career Achievement Award in the magazine's fifth annual CFO of the Year Awards.
Doug retired in March after 18 years as CFO of Target. He has stayed with the company part-time to assist in his successor's transition.
As the MSP Business Journal reported, Doug played a key role in several major initiatives at Target, including its relaunch of Target.com, the sale of its credit card receivables portfolio and its upcoming expansion in Canada. But, the article added, "it’s the company’s commitment to a fully-funded, defined-benefit pension plan that he cites as 'emblematic of how the whole enterprise goes about accomplishing its objectives in a disciplined framework.' "
Doug joined Target in June 1994, when it was named Dayton Hudson Corp. In addition to CFO, he also served as executive vice president at Target Corp., from February 2000 to March 31, 2012, and as its chief accounting officer until March 31, 2012. Prior to joining Target, he was senior vice president of finance at Fleming Companies Inc. and a vice president and treasurer at Coca-Cola Enterprises.
In a Minneapolis Star Tribune article announcing his retirement plans a year ago, Doug was called "the oil that greased the company's wheels."