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| Gregg Steinhafel |
Well, somebody had to pay for all those empty shelves over at the Target store in the East York Town Centre. That South Bayvview store was but a microcosm of the huge re-supply issues Target has had in trying to get its Canadian adventure going. That and the massive data breach of customer information last December have led to the “voluntary” departure of Target CEO Gregg Steinhafel. The 59-year-old Steinhafel started as a merchandising clerk with Target in 1979 and made a career with the big retailer. He will receive $55 million dollars severance, and if that doesn’t make you gasp, the company lost a billion dollars U.S. last year. Of course, Steinhafel had many successful years at the top with Target and clearly made them a lot of money. But no tag days for Gregg. He collected $64.3 million in total compensation between 2010 and 2014, according to the company’s latest compensation-related regulatory filings. That’s above the nearly $7 million he accumulated in base salary and bonuses in that same period of time
