Target Corp. Chief Executive Officer Gregg Steinhafel saw his compensation package increased nearly 5 percent last year, to $20.65 million, Dow Jones Business News reports.
The Business Journal says Steinhafel, who is also the chairman and president of the Minneapolis retail giant, earned a base salary of $1.5 million. He did not receive a bonus, but stock and option awards totaled more than $10.5 million. Non-equity incentive plan compensation was $2.9 million. All other compensation was $5 million. Change in pension value was $666,000.
Steinhafel's compensation was $19.71 million the previous year and $23.99 million in 2010.
Kathryn Tesija was second-highest paid Target executive in 2012 at more than $7 million.
CMO Jeff Jones followed with $6.8 million.
Last month, Target warned our unseasonably cold spring weather was hurting spring sales and would likely miss first-quarter projections. Target expects to release those results on May 22.
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