Business

Report: Target’s CEO Opposed Transgender Plan Which Slashed $20 Billion in Stock Value

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In an interesting turn of events, sources have found out that the Target transgender policy was never approved by the CEO.

Target CEO Brian Cornell was away from the country meeting with potential suppliers when his top deputies decided to approve a policy that ultimately ruined Target’s stock market. The transgender bathroom policy caused outrage country wide from loyal customers. Feeling unsafe in a public bathroom caused clientele to stop shopping at Target and to start a boycott against the company for their anti-christian/anti-family views.

When Brian Cornell finally got wind of this information it was too late to reverse the damage and he was forced to accept the consequence of his deputies actions.

Via Breitbart:

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.

Makes you wonder if those members of his top staff were released from their positions for over stepping their bounds and costing the company around $20 billion dollars.

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1 Comment

  1. Nana

    April 8, 2017 at 9:35 pm

    But, wouldn’t the loyal shoppers return to Target, once the policy was reversed? Or, maybe not enough would to undo the damage, but any coming back should help the bottom line. Or, maybe the loyal shoppers now would not trust Target to make more outrageous policies, even if this was reversed. Wonder if this fellow (the CEO) would be looking for another company to run? Flee a sinking ship, especially if he had no hand in causing it to sink.

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