Target's CEO made 719 times the median employee's pay last year

2024-04-29 21:46:40+00:00 - Scroll down for original article

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Target CEO Brian Cornell received total compensation of $19.2 million last year. The median compensation for associates was $26,696, according to Target's annual proxy statement. Cornell's pay is behind Walmart CEO Doug McMillon and ahead of former Costco CEO Craig Jelinek. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Brian Cornell has come a long way since his days of scrubbing Tropicana trucks and coaching high school football to pay his bills. The Target CEO received total compensation last year of more than $19.2 million, up $1.6 million from the year before, according to the company's annual proxy statement filed Monday with the SEC. The pay package consisted of $1.4 million in base salary, $14.7 million in stock awards, and about $3.1 million in other compensation. Related stories Cornell also made $303,197 worth of use of Target's company-owned airplane "for security reasons," the filings say. Advertisement The 65-year-old New York native is now in charge of 415,000 workers across 1,956 retail stores across the US, and annual revenues of $107.4 billion. Of those 415,000 workers, the median employee was paid $26,696 last year, up 2.7 percent from the previous year. Cornell's compensation is 719 times that amount. By comparison, Walmart CEO Doug McMillon's most recently disclosed compensation package was $26.9 million, while Craig Jelinek made $16.8 million in his final year as Costco CEO. Their pay ratios were 976 and 336, respectively. Under a new calculation that companies are required to disclose as of last year, Cornell saw his net worth grow by nearly $10.7 million last year after adjustments to recognize the gains and losses of his stock awards. Advertisement Do you work for Target? Contact Dominick Reuter via email or text/call/Signal at 646-768-4750. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.