Sources: Target [SEC filing], Daily Mail UK
quote: It is 100% against the best interests of a company, and it's shareholders, to remove risk from the CEO position. That should be the *most* risky position in the entire company. Because missteps from that office affect everyone else in multiples...as opposed to the random sucker in a cube someplace who almost certainly only affects himself, or a very small group, when he f%cks something up.
quote: The penalty for screwing up as a CEO should be massive.
quote: It's not a CEO's job to monitor computer systems, but it is his job to ensure that their earnings do not tumble 46% in one quarter regardless of the reason.
quote: I would expect the CEO to have even MORE responsibility for fiscal failures.
quote: While I'm not condoning what happened, the guy probably what was in his contract. It's not like he was directly responsible for the lax security measures.
quote: You can keep your plan"
quote: You can keep your doctor"
quote: a red line for us is we start seeing a whole bunch of chemical weapons moving around or being utilized.
quote: not even a smidgen of corruption.
quote: "The president has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester, he will contribute a portion of his salary back to the Treasury," a White House official said at the time.
quote: As for the contract, did you miss the part about $10M+ of the payout was a bonus? He could maybeeee try to sue Target if the language says something about the size of the bonus being discretionary based on perfromance, but good luck with that. As for the severance, if they wanted, they could have terminated him with cause to avoid paying the severance package.