The CEO of Target Corp. was away meeting suppliers when his top deputies destroyed $20 billion in company stock value by publicly declaring their support in April 2016 for the very unpopular “gender identity” transgender political agenda, according to the Wall Street Journal.
Target CEO Brian Cornell “expressed frustration” to his deputies once the transgender policy was announced, but also said it would be too risky to publicly withdraw the policy, which has helped alienate customers and slashed the company’s stock value from roughly $50 billion to roughly $30 billion, according to the Wall Street Journal.
“You can’t take it back,” an unnamed source told the Journal’s reporter, Khadeeja Safdar. The source added that Mr. Cornell “felt very stuck’ over the situation. “Target didn’t adequately assess the risk, and the ensuing backlash was self-inflicted, he told staff. Now, it was too late to reverse course,” the paper reported. The decision was announced via the company’s website and social media accounts. In the ensuing weeks, Cornell publicly announced his unqualified support of the policy and defended it on multiple occasions.
http://www.breitbart.com/big-government/2017/04/07/report-targets-ceo-opposed-transgender-plan-slashed-20-billion-stock-value/
what a spineless piece of liberal garbage. He enthusiastically defended this policy, and now admits it was a mistake and 'not my fault'.
Rather than resign as he allowed his subordinates to trash the company, he will not take blame and remains on board.
He says he was out of town when decision was made. What a crock. The guy is 100% in contact at all times. This is not the 19th century as he would have us believe.
A true lib, he should run for Congress.
