ISS seeks ouster of most of Target's board

[unhappycamper]

http://www.thenewstribune.com/2014/05/28/3215878/iss-seeks-ouster-of-most-of-targets.html?sp=/99/261/

ISS seeks ouster of most of Target's board
By ANNE D'INNOCENZIO
AP Retail Writer
May 28, 2014 Updated 16 hours ago

NEW YORK — A prominent proxy advisory firm has recommended that Target shareholders vote out seven of its 10 board members after a massive pre-Christmas data breach.

Institutional Shareholder Services on Wednesday targeted those members who serve on the company's audit and corporate responsibility committee. Included on that list are Anne Mulcahy, former chair and CEO at Xerox, and James A. Johnson, who was once the CEO at Fannie Mae.

ISS also recommended that shareholders should vote to separate the roles of chairman and chief executive.

The data theft, which led to the breach of millions of debit and credit card accounts, has cut into profits and sales at the nation's third largest retailer. Target, based in Minneapolis, cut its annual profit outlook last week after a 16 percent decline in first-quarter earnings. That followed a 46 percent drop in fourth-quarter profits.

[kickysnana]

1. First Read: International Space Station seeks ouster...

break time.