Target overhauls executive compensation plans, cuts ex-CEO's pay

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Target has overhauled its executive compensation plan due to low shareholder support.

Former CEO Gregg Steinhafel's total compensation dropped 37 percent last year to $13 million amid a credit-card breach that affected millions, according to an SEC filing.

Meanwhile, interim CEO John Mulligan saw his total pay rise 4 percent last year to $4.6 million.

Shares of the retailer were higher on the news. (Click here for the latest quote.)

By CNBC