Succeeding 15 years of great functionality, Target's faltering performance during an economic slowdown led an activist investor to initiate a proxy fight. Target Corporation, the second-biggest discount store retailer in the U.S., had competed successfully against industry leader Walmart for years by boosting an upscale discount shopping encounter in comparison to Walmart's focus on low prices.
This strategy worked well for Target in great economic times. The economic crisis of 2008-2009, however, caused shoppers to left Target in favor of Walmart. In the spring of year 2009, one of the biggest investors of Target initiated a proxy fight to place his five manager nominees on the board.
Target Corporation Ackman versus the Board case study solution
PUBLICATION DATE: June 26, 2009 PRODUCT #: 109010-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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