Business & Economy · 1 views
Target’s missteps have alienated consumers and shaken investors. Executive Chair Brian Cornell should step down
Target’s annual shareholder meeting in June was a referendum on the company’s leadership, and the story is bleak: nearly 13% of shareholders opposed the reelection of Executive Chair and former CEO Brian Cornell.
Story Brief
Target’s annual shareholder meeting in June was a referendum on the company’s leadership, and the story is bleak: nearly 13% of shareholders opposed the reelection of Executive Chair and former CEO Brian Cornell. Combined with nearly 40% support for a shareholder proposal calling for an independent Board Chair, this level of opposition makes clear that some shareholders are dissatisfied with the decision to retain Cornell on the Board after he stepped down as CEO early this year.
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