Target CEO To Step Aside In May

Target CEO Bob Ulrich is going to step down in May. What the hell? Is this like CEO fallout season? Does no one want to run a company anymore? Here’s some companies that got new CEOs in recent months: Starbucks, Krispy Kreme, Bear Stearns, Citibank, AT&T, Delta, Home Depot, Sprint, H&R Block, Merril Lynch, and The GAP. We’re already scouring Craiglist for our recession shelters. Any relatively remote cabin by a lake, equipped with high-speed internet, will do the trick.
(Photo: Forbes)

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  1. anecdotal says:

    he is 65. target has a mandatory retirement requirement @ 65.

  2. Kounji says:

    So this would mean this is non news

  3. Neurotic1 says:

    This begs the question: why should a CEO stay? When shit hits the fan, it’s just way too easy for a CEO to bailout with their golden parachutes. I’m not feeling sorry for any of ‘em.

  4. girly says:

    @neurotic1: I agree.

    Aren’t investors supposed to be sharp people?

    They seem to tolerate companies straining at the gnats (regular employees as with Circuit City) and swallowing camels (CEO golden parachutes).

    Forget any standards…if you just care about cash, decent employees probably get you more business for the buck.

    No wonder America is slipping!

  5. chili_dog says:

    @girly: “Aren’t investors supposed to be sharp people?” Bahahahahahaha oh you made me laugh.

  6. ionerox says:

    Not news, everyone knew it was going to happen.

  7. ARP says:

    I need to figure out how to become a CEO. Then I can go from company to company doing whatever crazy thing comes into my head. And when I screw up and the company loses millions, they pay me a few million dollars to leave. The craziest part is that my career wouldn’t be over. I could just move to another huge company and do the same thing all over again. Brilliant.

  8. Neurotic1 says:

    ^ that just made me laugh out loud.

  9. crazyflanger says:

    IF I was a CEO, I’d sit inside my fancy office all day pouring burning hot coffee on my chest. If anyone questioned me I’d pout and leave early for the day.

  10. Notsewfast says:

    @girly:
    @chili_dog:
    First of all, TGT’s CEO stepping down is not in line with what you said. It hasn’t had a great year, but that can be said for most of the market. “Non-investors” see stocks like Google, Apple, and RIM as the standard of “good” performance and they are incredibly wrong.

    The overall market has seen a slump, mostly because of the housing fallout (along with banks’ write downs) and rising energy prices.

    Stocks like GOOG, AAPL and RIMM are large growth stocks that have had insane rates of return in the past couple of years, just because something doesn’t get reported on the nightly news doesn’t mean it has performed poorly.

    In regards to your comment about investors being “sharp”: most professionals are savvy and try to avoid owning bad companies, therefore we don’t have voting rights and the ability to kick out officers.

    I think you are confused; Owning a stock only makes you an investor in the very literal sense of the word.

  11. zaka says:

    hah… before you dump on Ulrich, you may want to take a peek at what he has actually done for the Target Corporation. Ulrich is definitely not bailing on a failing company– check out the stock history of TGT on the NYSE since he became CEO. Ulrich built an empire. There are certainly some companies that are hurting in America right now, but Target is definitely not one of them.