- Target CEO Brian Cornell received total compensation of $19.2 million last year.
- Median associate compensation was $26,696, according to Target’s annual proxy statement.
- Cornell’s salary is behind Walmart CEO Doug McMillon and ahead of former Costco CEO Craig Jelinek.
Brian Cornell has come a long way from his days cleaning trucks at the Tropicana and coaching high school football players to pay the bills.
Target’s CEO received total compensation of more than $19.2 million last year, up $1.6 million from the previous year, according to the company’s annual proxy statement filed Monday with the SEC.
The pay package included $1.4 million in base salary, $14.7 million in stock and about $3.1 million in other compensation.
Cornell also made $303,197 using the Target-owned plane “for security reasons,” according to the documents.
The 65-year-old New Yorker now heads 415,000 employees in 1,956 retail stores in the United States and annual sales of $107.4 billion.
Of those 415,000 workers, the median employee received $26,696 last year, an increase of 2.7 percent from the previous year. Cornell’s compensation is 719 times that amount.
For comparison, Walmart CEO Doug McMillon’s most recently disclosed compensation was $26.9 million, while Craig Jelinek earned $16.8 million in his final year as CEO from Costco. Their pay ratios were 976 and 336, respectively.
According to a new calculation that companies have been required to disclose since last year, Cornell saw his net worth increase by nearly $10.7 million last year after adjustments to recognize gains and losses from his awards of actions.
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