Target drops mandatory retirement age, allowing CEO Cornell to stay
Target is dropping the mandatory retirement age for its CEO, allowing Chief Executive Brian Cornell to stay on for three more years. Cornell, 63, would have passed the age of 65 in that span. "In discussions about the company's longer-term plans, it was important to us as a board to assure our stakeholders that Brian intends to stay in his role beyond the traditional retirement age of 65," said Monica Lozano, the lead independent director of Target's board in a release on Wednesday.
Sales at the discount retailer have grown steadily since Cornell took the top job in 2014.
Brian Cornell, chief executive officer and chairman of Target Corp., smiles during a Bloomberg Television interview in New York, U.S., on Tuesday, March 5, 2019...