Tuesday, May 20, 2014

"an involuntary termination for reasons other than for cause."

That's how Target Corp. describes the departure of CEO Gregg Steinhafel as the troubled discount retailer attempts to move on from a disastrous data breach, failed Canadian expansion and low sales, as we're told here. In spite of this trifecta of misfortune, Steinhafel will depart the Minnesota company with a $15.9 million severance package. In the previous two years combined the 35-year Target veteran earned $33.6 million in cash and stock awards.

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