Target has announced that their CEO, Brian Cornell, will be taking a 1/3 cut in his pay, and now will only be making $11.3 million every year.
SO.. Cornell was making almost $30 million per year, and now has to live on a measly $11.3 million?
Target CEO Brian Cornell Takes 1/3 Cut In Pay – Now Must Live On Pittance Of $11.3 Million Per Year
“You shouldn’t be getting rich when you are producing rotten numbers,” – Financial advisor Paul McConnell
So, as far as Financial advisor Paul McConnell is concerned, you are not “rich” if you are making a measly $11.3 million per year! Whatever, the loser Target CEO should work for free after the shit-storm he has caused Target over a stupid issue like transgender bathrooms.
Target deserves the hell they are going through, and I have not been back to a Target store sinvce the bathroom brohaa came about, and don’t plan on going back.
Anyone who reads the articles I write will know that I drop companies like a bag of dirt when they piss me off, and Target certainly fits in that category with the latest addition of shitty libtard fake conservative cable news network – Fox News.
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.
The Target chief’s pay is based on two financial points, the company’s incentive EBIT — which makes up 75 percent of his stock component — and adjusted sales. But both have been in the dumps since last year.
As Reuters reported, “Target said it missed its 2016 Incentive EBIT goal of $5.74 billion by $623 million and fell short of its adjusted sales target of $71.62 billion by $2.13 billion.”
Financial advisor Paul McConnell insisted that the cut in Cornell’s pay was good to see. “You shouldn’t be getting rich when you are producing rotten numbers,” McConnell told Reuters.
Indeed, Target’s stock has fallen to lows not seen since 2014, the same year Cornell was hired, and is now down 10 percent, even over the price a year ago.
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