Brian Cornell will step down as Target's CEO next year, the company's board of directors announced on Wednesday. The 67-year-old has led the big-box retailer since 2014. He will be succeeded by Chief Operating Officer Michael Fiddelke, who will take over as CEO on February 1.
Brian Cornell will step down as Target CEO next year (Target)
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After Target's board of directors made the announcement, the company's shares slumped as much as 11% early trading.
Cornell is leaving at a time when the retailer is facing growing pressure over slowing sales. Its rollback of DEI initiatives has also prompted criticism.
Target's former CEO Brian Cornell earned between $18 and $20 million per year in salary for his role, according to CelebrityNetWorth. The website further estimates his net worth to be around $80 million. Please note: Hindustan Times cannot verify the authenticity of these figures at the moment. No official figures are published.
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Evan Clark of Women's Wear Daily, earlier this year, reported that Cornell's package hit $20.4 million in 2024 with a big boost from stock awards.
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Evan Clark of Women's Wear Daily, earlier this year, reported that Cornell's package hit $20.4 million in 2024 with a big boost from stock awards.
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“Cornell’s overall compensation rose 6.3 percent and included a salary of $1.4 million, bonus and incentive pay totaling $2.3 million and stock awards valued at $16.1 million,” the report stated.
Cornell is a seasoned American retail executive who has been the CEO of Target since 2014. Born circa 1959 in Queens, New York, Cornell grew up with his grandparents. He earned a bachelor’s degree from UCLA in 1981 and attended the UCLA Anderson School of Management in 1991. His career spans over 30 years, including roles as chief marketing officer at Safeway (2004-2007), CEO of Michaels (2007-2009), CEO of Sam’s Club (2009-2012), and CEO of PepsiCo Americas Foods (2012-2014), before joining Target in August 2014 as its first external CEO hire.
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Home/World News/Us News/Brian Cornell salary and net worth: How much did ex-Target CEO earn?
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