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Target cut Steinhafel compensation before termination
Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.
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Survey: Breach has little long-term impact on Target customers
Minneapolis – The vast majority of Target customers intend to continue spending the same amount of money or more there in the next year as they did before the December 2013 data breach. According to a new Bloomberg National Poll of 1,020 Target customers, 85% of respondents will spend the same amount of money, 7% will spend more and 7% will spend less, with 1% having no opinion.