Activist investors target Brian Cornell's Target chair role
Three activist investors urged Target shareholders to vote against Chairman Brian Cornell and Lead Independent Director Christine Leahy, filing an exempt-solicitation notice with the SEC before Target's June annual meeting.[1]
The investors are Mercy Investment Services, SOC Investment Group and Trillium Asset Management.[1] They say Cornell's continued role as executive chairman after stepping down as CEO undermines board independence and could block changes new CEO Michael Fiddelke is trying to implement.[1]
Cornell left the CEO role earlier this year but remained executive chairman, a setup the activists say impedes the strategic shift Target needs as leadership changes.[1] The filing sets up a potential governance fight at the June shareholder meeting and could increase pressure on the board as Fiddelke moves to revamp operations.[1]
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📌 Key Facts
- Activist investors Mercy Investment Services, SOC Investment Group and Trillium Asset Management are urging Target shareholders to vote against Chairman Brian Cornell and Lead Independent Director Christine Leahy.
- The campaign is laid out in a notice of exempt solicitation filed with the SEC ahead of Target’s June 2026 annual shareholder meeting.
- Cornell left the CEO role earlier this year but remains executive chairman, a setup activists argue hinders needed strategic change and board independence as new CEO Michael Fiddelke moves to revamp operations.
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