$19.5 million in pay for Target CEO, in 2011
Target is reporting it gave its chairman, CEO and president Gregg Steinhafel a pay package in 2011 of $19.5 million, including stock and option awards that combined valued at $8.5 millionBy: Anne D'Innoccenzio, AP Retail Writer
NEW YORK — Target is reporting it gave its chairman, CEO and president Gregg Steinhafel a pay package in 2011 of $19.5 million, including stock and option awards that combined valued at $8.5 million
The compensation, however, marks an 18 percent drop from the previous year, when Steinhafel's total package was boosted by a big stock award that was granted in March 2010 that was tied to his performance in 2009.
Steinhafel's base salary was $1.5 million — the same as the year before. He received a $1.25 million bonus and other compensation worth $5.5 million, including $5 million in supplemental pension plan benefits, according to Associated Press calculations.
The company is based in Minneapolis, Minn.
Copyright 2012 The Associated Press.
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