Investor confidence in Target's board leadership has deteriorated to a historic low, with support for chair Brian Cornell falling to its weakest level on record.
The erosion of backing comes as the retailer navigates a difficult period of underperformance and operational challenges, despite the appointment of a new chief executive tasked with leading an aggressive turnaround.
The decline in shareholder sentiment underscores growing frustration among investors who view the board's continued reliance on Cornell as misaligned with the company's current trajectory.
While the retailer has promised a strategic reset under new management, the board's composition remains a focal point of contention, with critics arguing that leadership continuity is hindering necessary change.
Target's struggles reflect broader pressures facing the US retail sector, where consumer spending patterns have shifted and competitive dynamics have intensified.
The company's recent financial results have disappointed analysts, fueling calls for more decisive governance reforms.