Thursday, July 18, 2019

Target Corp's Top-Tier Executives Average Pay Raise Was 10.1% Per Year During the Past Ten Years (2009-2018) ..... a 19.3% Increase Per Year in the Most Recent 5 Years But Only a 0.8% Increase Per Year in the Previous 5 Years

From Company Proxy Statement filings with the SEC, below are Target Corp's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years.

It was a story of two very different Top-Tier Executive Group pay patterns.

In the most recent five years, Target's Top-Tier Executive Group experienced an Average Pay Increase of a very robust 19.3% per year.

Whereas in the preceding five-year period, Target's Top-Tier Executive Group experienced an Average Pay Increase of only 0.8% per year.

Target's Top-Tier Executives Average Annual Pay Raise of 10.1% per year over the past 10 years is the 7th highest of the eleven largest Retail Companies I have researched and made similar posts on:
  1. Amazon +659.0% per year for the past ten years
  2. McDonald's +30.7% per year for the past ten years
  3. Walgreens Boots Alliance +22.2% per year for the past ten years
  4. The TJX Companies +20.7% per year for the past ten years
  5. Starbucks +16.4% per year for the past ten years
  6. CVS Health +13.1% per year for the past ten years
  7. Target Corp +10.1% per year for the past ten years
  8. Costco +7.1% per year for the past ten years
  9. Home Depot +6.5% per year for the past ten years
  10. Walmart +5.8% per year for the past ten years
  11. Lowe's Companies +4.2% per year for the past ten years

To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed Fair Pay Raise Income Inequality Narrowing Company tax incentives ..... the carrot ..... and Company wise tax disincentives ..... the stick.  

And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives.  This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades  .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages.


Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive. 

I have researched and made posts on Top-Tier Executives Long-Term Average Annual Pay Raise per year for each of the 30 Dow Industrial Companies and for 22 of the largest Non-Dow Technology Companies.  


I am now turning my attention to large Non-Dow, Non-Technology Companies and I have started with the US Retailers.  

My objective is to get an even better handle on just why the US has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages, coupled with the stock price appreciation subsequent to the time the Top-Tier Executives were rewarded in their pay with stock equity compensation.


FYE
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FYE
FYE
FYE
FYE
FYE
FYE
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Target Corp
2018
2017
2017
2016
2016
2015
2015
2014
2014
2013
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
Brian Cornell CEO     17,204       8,399       8,399     11,281     11,281     16,946  N/A   N/A     
Cathy Smith CFO       5,581       3,312       3,312       4,439  N/A   N/A     
John Mulligan COO       8,576       4,409       4,409       7,031       7,031     10,393     10,393       6,293       6,293       4,634
Michael McNamara Chief Information Officer       5,356       3,073       3,073       4,306  N/A   N/A     
Don Liu Chief Legal & Risk Officer       4,331       2,893  N/A   N/A 
Jeffrey Jones Chief Marketing Officer       7,673       4,359       4,359       4,292
 Kathryn Tesija Merchandising&Supply Chain        6,324       7,198
Tina Tyler Chief Stores Officer       4,525       4,680
Gregg Steinhafel CEO  N/A   N/A 
 Totals      41,048     22,086     19,193     27,057     18,312     27,339     18,066     10,652     21,501     20,804
Annual % Change vs Prior Year 85.9% -29.1% -33.0% 69.6% 3.4%
5 Year Average Per Year % Change 19.3%
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
Target Corp
2013
2012
2012
2011
2011
2010
2010
2009
2009
2008
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
 John Mulligan COO        4,634       4,474  N/A   N/A 
 Jeffrey Jones Chief Marketing Officer   N/A   N/A         
 Kathryn Tesija Merchandising&Supply Chain        7,198       7,167       7,167       6,034       6,034       5,504       5,504       5,383  N/A   N/A 
 Tina Schiel Chief Stores Officer        4,680       4,640  N/A   N/A     
 Gregg Steinhafel CEO      12,953     20,647     20,647     19,707     19,707     23,990     23,990     13,307     13,307     13,498
 Douglas Scovanner CFO        5,459       8,595       8,595       8,290       8,290       8,439
 Terrence Scully President Fincl&Retail Svcs        4,480       4,152  N/A   N/A 
 Michael Francis Chief Marketing Officer        5,998       6,305       6,305       6,143
 Totals      29,465     36,928     27,814     25,741     35,680     42,241     44,087     33,285     27,902     28,080
Annual % Change -20.2% 8.1% -15.5% 32.5% -0.6%
5 Year Average Per Year % Change 0.8%
10 Year Average Per Year % Change 10.1%