Stephen L Pistner, former president of Target and Dayton-Hudson, has died aged 92.

Pistner became the third president of Target in 1973 after his stint as CEO of Team Electronics, which Dayton-Hudson acquired in 1970.

At Dayton-Hudson, he was responsible for the operations of Dayton’s and Hudson’s department stores, Target stores, Mervyns, and B Dalton Books.

Pistner also became instrumental in rescuing Target and Montgomery Ward from bankruptcy, earning him the moniker ‘Mr Turnaround.’

Moreover, he worked as CEO of McCrory Corporation and as chairman and CEO of Ames Department Stores.

Apart from his interest in retail, Pistner was also keen in arts, serving on the executive committee boards of the Chicago Symphony Orchestra, the Lyric Opera of Chicago, and the Naples Philharmonic Center for the Arts.

He was also a member of the advisory committee of the Naples Museum of The Arts, now known as Artis Naples and the Baker Museum of Art.

Pistner is survived by his wife and three children.