Target investors reject proposal for independent board chair, support rises but stays below majority

Target shareholders rejected a proposal to separate the board chair and executive leadership roles, although support rose to 38.1% from 29% in 2024. The vote indicates continued governance scrutiny but does not represent a change in control or operating fundamentals. Market impact should be limited.

Analysis

Target shareholders rejected a proposal to separate the board chair and executive leadership roles, although support rose to 38.1% from 29% in 2024. The vote indicates continued governance scrutiny but does not represent a change in control or operating fundamentals. Market impact should be limited.