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Target Corp Board Seat Seeker Calls For Single Ballot

Publication Date: 
April 21, 2009
Forbes (Reuters)
Brad Dorfman

Professor Ronald J. Gilson is quoted in Forbes (Reuters) in an article about the use of a single ballot for the election of a new Board of Directors at Target Corp:

A corporate governance expert who is part of hedge fund Pershing Square Capital Management's slate seeking seats on Target Corp's board of directors is asking the discount retailer to use a single ballot for the board election.

The move would give shareholders a chance to choose candidates from both the company's slate for the board and Pershing Square's, rather than only being able to choose one group of candidates or the other, Columbia University and Stanford law professor Ronald Gilson said in a letter to Target ( TGT - news - people ) executives. The letter was filed with the U.S. Securities and Exchange Commission.

Gilson is part of a slate of five candidates that Pershing Square, the hedge fund controlled by activist investor William Ackman, has proposed for Target's board.

'Target and Pershing Square now have the opportunity to proactively provide good corporate governance to the Target shareholders by making it convenient for them to make a choice in what, in the end, is their election,' Gilson said in the letter.