Summary
Target Corporation announced a significant expansion of its Board of Directors with the appointment of two new independent directors, Derica W. Rice and Christine A. Leahy. These appointments are effective August 31, 2020, for Mr. Rice and January 1, 2021, for Ms. Leahy. The addition of these experienced executives is intended to enhance the Board's oversight and strategic guidance, particularly given their diverse backgrounds in healthcare, finance, and technology. Mr. Rice brings a wealth of financial and operational expertise, having held senior executive roles at CVS Health and Eli Lilly, and also has prior experience serving on Target's Board. Ms. Leahy offers extensive leadership in the technology sector as the CEO of CDW Corporation. Both directors will receive standard compensation for non-employee directors, including an initial Restricted Stock Unit (RSU) grant valued at $50,000, aligning their interests with shareholders.
Key Highlights
- 1Target Corporation is adding two new independent directors to its Board: Derica W. Rice and Christine A. Leahy.
- 2Derica W. Rice has a strong financial background, previously serving as EVP of CVS Health and CFO of Eli Lilly and Company. He also has prior experience on Target's Board.
- 3Christine A. Leahy is the CEO of CDW Corporation, bringing significant leadership experience in the technology solutions sector.
- 4Mr. Rice's appointment is effective August 31, 2020, and Ms. Leahy's appointment is effective January 1, 2021.
- 5Mr. Rice has been appointed to the Audit & Finance Committee and the Governance Committee.
- 6Both new directors will receive a one-time RSU grant valued at $50,000.
- 7The appointments are expected to strengthen the Board's expertise in key areas relevant to Target's strategic direction.