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Target shareholders approve all 10 board nominees
New York • Target says its shareholders approved all 10 nominees to the company's board of directors despite recommendations from a prominent proxy advisory firm to get rid of the majority in the wake of a data breach.
Institutional Shareholder Services last month targeted those members who serve on the company's audit and corporate responsibility committee. ISS also called for shareholders to vote to separate the roles of chairman and chief executive, but that shareholder proposal was voted down as well.
The meeting comes at one of the most tumultuous times in Target's history as it faces challenges on all fronts ranging from a massive pre-Christmas breach to a botched-up expansion in Canada.
Target, based in Minneapolis, is searching for a permanent leader after ousting its CEO in late April.