Target’s Chair and Chief Executive Officer Brian Cornell Pay Fell $2.1 Million

Target CEO Brian Cornell’s compensation declined by $2.1 million: Last year, Brian Cornell, the chairman and CEO of Target, received $17.7 million in compensation, which is 10.6% less than the $19.8 million he received in 2021. This decrease was due to a decline in his bonus and incentive pay.

Cornell’s salary was $1.4 million, but his bonus and incentive pay decreased by 71% to a total of $1.1 million from the previous year’s $4 million.

Here are the details (The fiscal year 2022)

Salary: $1,400,000
Bonus: $693,000
Stock awards: $14,476,318
Non-equity incentive plan compensation: $450,240
All other compensation: $645,338
Total: $17,664,896

Here are the details (The fiscal year 2021)

Salary: $1,400,000
Bonus: $1,201,200
Stock awards: $13,749,937
Non-equity incentive plan compensation: $2,795,240
All other compensation: $612,389
Total: $19,758,766

While Target’s revenue increased last year, the decline was largely due to a sharp drop in compensation from the Minneapolis-based company’s non-equity incentive plan, which is tied largely to sales and operating income.

Operating income tumbled by more than half as consumers pulled back from discretionary items amid soaring inflation and spent more on groceries and services.

Walmart CEO Doug McMillon received $25.3 million in total pay last year, down less than $400,000 from the previous year. Walmart also reported a decline in operating income and other profit measures last year. Both retailers report fiscal first-quarter results in mid-May.

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