That's because of the board's general passivity and its dependence on a few key hires to drive change.
The Wall Street Journal estimated Steinhafel's lovely parting gifts were worth $37.8 million, while USA Today guessed he will eventually get $55 million or more, based on past policies. The announcement of his departure came in a terse press release.
If that sounds like a lot of money Steinhafel's predecessor, Robert Ulrich, had accumulated deferred pay and pension benefits worth more than $140 million when he left in 2007.
Those numbers must be going over well in Target's employee ranks, where many people earn minimum wage. The National Employment Law Project identified Target as the fourth largest low-wage employer in the U.S., with a total workforce of 365,000.
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