After a full year of sliding profits and stock prices, retail giant Target Corp. has announced a cut in pay for its CEO, Brian Cornell.
After a year of declining sales, tumbling share prices, and a major slide in its brand name, Target announced that Cornell’s compensation is to recede by nearly one-third, falling to $11.3 million, Reuters reported on Monday.
The reason for the cut in pay is that Cornell’s compensation is based on an incentive program. Growth for the company means growth for his take home pay. On the other hand, with the company losing billions year over year, Cornell’s incentive plan has predictably come up short.
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15 comments:
I certainly hope that he can pay his electric bill. That's a tough blow.
Setting up transgender bathrooms and dropping Ivanka Trump clothing lines has worked out great for Target!!!!! You companies keep siding with the snowflakes that don't make any money and you all will soon close the doors!!! FUNNY AS HELL!!! Ha Ha Ha
hey if you make stupid mistakes you deserve to pay. still making $11.3 million and if the company was doing well he should be. Actually based on what is happening he should be canned
poo guy. only pulling in 11.3 million ? how will he make ends meet ?
The CEO is an ass. If you are going to get political expect people to boycott your product. Starbucks coffee isn't that great anyway.
This isnt about Starbucks.
Cant imagine why...
I will tell you why:
Because the article is about Target.
How can it be about Starbucks, when it is about Target?
Geez
ANY serf would have already been reprimanded and fired. Lucky to find a job as a night auditor at Motel 6 after a year like that.
Once you start making that kind of money, the rules become different.
How much money (in stock value, goodwill, earnings, etc.) did that exceptional track record cost Target last year?? And they still want to give this goof another 11 MILLION?!
Consider his salary a loss, too.
Serfs, keep cheering.
With this wage drop he also got a drop in his webcam minutes of the trans bathroom camera at Target.
Gosh darn.
Couldn't have happened to a nicer company!! Going on two years since I last stepped foot in their store. Don't plan on ever shopping there again.
You all arguing about Target/Starbucks are missing the point. Both CEOs are left leaning with radical marketing strategies that are failing. I have not and will not patronize either in quite some time. I like Target over other retailers but not with their radical ideals. The BOD should wake up and see the error of their ways with this CEO.
CEOs should keep their personal politics out of company business, period. There's no need to for them to stick their noses out there into the country's business other than as a private citizen. Not widely reported is Amazon has also experienced a decrease in sales and it's not just because of their new sales tax policy. People are fed up with CEOs like Schultz and Bezos. They're done and the best way to indicate this is with their own personal power of the purse.
Haven't stepped a foot into Target since their wonderful bathroom rules decision. Haven't been to Starbucks since their decision to hire 10,00 illegals....keep up the good CEO work
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