New York — Target Corp. announced at its annual meeting on Wednesday that the company’s shareholders re-elected its entire 10-member board of directors. Shareholders also approved the company’s executive compensation plan.
In May, proxy firm Institutional Shareholder Services recommended the removal of seven board members, accusing them of failing to protect Target from its massive data breach.
Shareholders also rejected all three outside resolutions that the board disliked, including a plan to separate the job of Target's CEO and the board chairmanship.
Before the meeting, Target increased its quarterly dividend by 21%, raising the payment to 52 cents a share.