Wednesday, July 30, 2014

Paying up: Hiring a new CEO from outside can be pricey

The search for a new CEO presents Target Corp. with a tricky paradox. In recent years, shareholders have grown more agitated over the big compensation packages that CEOs of giant companies typically receive. Target itself nearly lost a say-on-pay vote last year, with only 52 percent of share­holders backing its policies. But to attract the right person, analysts think Target may well have to offer its next leader an even better package than ousted CEO Gregg Steinhafel received. Many observers are hoping for an outsider who can breathe new energy into the retailing giant, which has struggled with declining U.S. sales, a botched launch into Canada and a high-profile data theft just before Christmas. Patrick Kennedy, Adam Belz and Kavita Kumar , Star Tribune

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