Transgender Target Stocks Plummet, Unrepentant Executives Punished
Target stores continue to close and its stock continues to dive deeper and deeper into the depths.
And Target executives are now getting their pay cuts as a "punishment" that still brings a little regret about "maybe we should have handled the transgender topic better" and not completely beat their Christian client base into the pavement.
Reuters reports:
Target Corp's Chief Executive Brian Cornell took a sharp cut in compensation after the company failed to meet financial goals in a year marred by declines in sales and share price.
Cornell's cash-and-stock compensation fell by nearly a third to $11.3 million, according to a document filed with regulators two months after the company reported results that sent its stock tumbling to 2-1/2-year lows.
In contrast, bigger rival Wal-Mart Stores Inc gave CEO Doug McMillon a 13 percent pay hike, following strong sales performance at the world's largest retailer.
CEOs of department store operators Macy's Inc and Kohl's Corp also received pay hikes, as they met at least one of their intended operational targets for the year.
While the pay of Kohl's CEO Kevin Mansell rose 2.7 percent for 2016, Terry Lundgren, his counterpart at Macy's, received a 15.3 percent hike.
http://www.reuters.com/article/us-target-compensation-idUSKBN17X1RV?il=0