Activist Presses Target For New Board

ANNE D'INNOCENZIO

NEW YORK (AP) — Calling Target Corp.'s current board insular, activist shareholder William Ackman paraded his slate of nominees — including a former CEO of Starbucks and a real estate executive — at a town hall meeting Monday for investors.

These candidates will provide a fresh perspective and expertise and help the discount retailer become more profitable, Ackman said.

"The board lacks experience in (Target's) core business," said Ackman — who runs hedge fund Pershing Square Capital Management, which owns a 7.8 percent stake in Minneapolis-based Target. He was speaking to investors and news media. ...