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Target urges shareholders to vote yes on board size and nominees

5/27/2009

MINNEAPOLIS Target issued a statement telling its shareholders to vote for the proposal to set the size of the Target board at 12 on their WHITE proxy card and to vote for Target’s nominees -- Mary Dillon, Richard Kovacevich, George Tamke, and Solomon Trujillo -- to the board of directors.

Target urged its shareholders not to return any proxy card sent to them by Pershing Square.

 

Target cited support of its position from Glass Lewis and Co.’s report dated May 19, which said, “Given that the board is proposing to fix the number directors at 12, we feel the proposed size remains within the boundaries of an effective board. Accordingly, we recommend that shareholders vote for this proposal.”

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