A new report revealed that Target CEO Brian Cornell’s salary dropped 87% from his compensation peak of $77.5 million in 2020, the Minnesota Star Tribune reports.
Cornell only earned $9.9 million in 2024 — a 45% drop from 2023 and the lowest since 2016. With a salary of $1,400,000, he also received a bonus worth $785,400. However, the decline in payment highlights the financial struggles that the Minneapolis-based retailer has suffered in recent years, in addition to political backlash.
Target fell short of annual performance targets in 2023 and missed an even wider margin in 2024. Brand executives seemingly receive equity awards for medium-term performance over three years in correlation with their colleagues. During the 2022-2024 performance period, the retailer’s performance fell short of sales, earnings, and return on specific invested capital sales goals. Read more at www.blackenterprise.com.
