Target ex-CEO’s pay fell 35 pct in final year

Published May 19, 2014 6:10pm ET



NEW YORK (AP) — Former Target CEO Gregg Steinhafel’s total pay fell 35 percent to $13 million in his last year at the helm as the company’s board revamped compensation plans amid complaints from shareholders that he was paid too much, according to a regulatory filing.

Steinhafel, who had earned nearly $20 million in the previous year, stepped down from the chairman and CEO role and resigned from the board earlier this month in the wake of a massive data breach and a botched expansion plan in Canada that have hurt its sales and profits.

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