Two independent advisory firms offered differing opinions about whom to elect at Target Corp’s annual shareholder meeting on May 28, with one suggesting four incumbents remain, and another suggesting two new members.
Glass Lewis & Co’s recommended the election of all four of Target’s incumbent nominees - Mary N. Dillon, Richard M. Kovacevich, George W. Tamke, and Solomon D. Trujillo – while keeping the board’s size at 12.
Meanwhile, RiskMetrics recommended the election of hedge fund manager William Ackman, and former Starbucks Corp. CEO Jim Donald. Ackman, who runs Pershing Square Capital Management, also nominated three other candidates and is pushing to increase the size of the board to 13. Pershing has a 7.8 percent stake in Target.
Target Corp. said today it ‘welcomed’ Glass Lewis’ recommendations but said it was ‘disappointed’ by RiskMetrics’ choices.