David P. Abney
TARGETAbout David P. Abney
Former UPS Chairman & CEO; independent director of Target since 2021. Age 69. Brings deep global logistics, supply chain resilience, human capital, risk management, and financial oversight experience; B.S. in Business Administration from Delta State University. Current public boards include Freeport‑McMoRan and Northrop Grumman; prior boards include Macy’s, UPS, Johnson Controls, and Allied Waste Industries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| United Parcel Service (UPS) | Chief Executive Officer | Sep 2014 – Jun 2020 | Led complex global operations |
| United Parcel Service (UPS) | Chairman of the Board | Feb 2016 – Jun 2020 | Oversight of governance and strategy |
| United Parcel Service (UPS) | Executive Chairman | Jun 2020 – Sep 2020 | Transition leadership |
| United Parcel Service (UPS) | Chief Operating Officer | Not disclosed | Operational leadership roles |
| UPS Airlines | President | Not disclosed | Aviation operations |
| UPS International | President | Not disclosed | Global expansion and international ops |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Freeport‑McMoRan Inc. | Director | Since 2021 | Audit; Compensation (Chair) |
| Northrop Grumman Corporation | Director | Not disclosed | Not disclosed in TGT proxy excerpt |
| Macy’s, Inc. | Former Director | Within past five years | Not disclosed |
| United Parcel Service, Inc. | Former Director | Not disclosed | Not disclosed |
| Johnson Controls International plc | Former Director | Not disclosed | Not disclosed |
| Allied Waste Industries, Inc. | Former Director | Not disclosed | Not disclosed |
Board Governance
- Target committee memberships: Audit & Risk; Infrastructure & Finance; independence affirmed; director since 2021 .
- Committee chairs/membership FY2024: committee meeting counts — Audit & Risk (8), Compensation & Human Capital Management (5), Governance & Sustainability (5), Infrastructure & Finance (5) (Abney is a member, not chair) .
- Skills emphasized by Target: senior leadership, global supply chain, information security/data privacy, financial management, risk management, ESG/governance .
Fixed Compensation
Target’s non‑employee director compensation program (Fiscal 2024):
| Component | Amount | Vesting/Payment | Notes |
|---|---|---|---|
| Annual total (RSUs‑only) | $310,000 | RSUs vest quarterly; convert to shares at departure | Directors can elect RSUs‑only |
| Annual cash + RSUs (mix) | $120,000 cash; $190,000 RSUs | Cash paid quarterly; RSUs vest quarterly | Deferral of cash via DDCP available |
| Lead Independent Director fee | $35,000 | Cash or RSUs (per election) | Additional role retainer |
| Committee Chair fee | $25,000 | Cash or RSUs (per election) | Applies to Audit & Risk, Compensation & HCM, Governance & Sustainability, Infrastructure & Finance |
| New director RSU grant | $50,000 | One‑time; per joining | Pro‑rated annual comp also provided |
Performance Compensation
Directors do not receive performance‑based equity; RSUs are time‑based with quarterly vesting in the fiscal year granted and convert to Target common shares upon departure. Dividend equivalents accrue as additional RSUs under the same conditions. No bonus, options, or performance metric linkage for directors is disclosed .
| Equity Feature | Terms | Notes |
|---|---|---|
| Annual RSUs | Granted each March; vest quarterly in fiscal year | Converted to shares after Board departure |
| Dividend equivalents | Accrue in RSUs | Same conditions as underlying RSUs |
| Deferrals | Cash retainer deferrable via DDCP (includes Target stock fund) | Aligns with ownership; director‑elected |
Other Directorships & Interlocks
| Company | Relationship to Target | Potential Interlock/Conflict |
|---|---|---|
| Freeport‑McMoRan (FCX) | Mining; supplier exposure not directly tied to Target’s retail | Low apparent direct conflict; strong committee leadership experience |
| Northrop Grumman (NOC) | Defense contractor | Limited direct retail overlap; time commitments monitored |
No specific related‑party transactions involving Abney are identified in the Target proxy excerpts retrieved .
Expertise & Qualifications
- Executive leadership of complex, labor‑intensive global enterprise; supply chain/logistics resilience; human capital management; ESG and sustainability oversight; information security/data privacy; financial and risk management; reputation management; broad public company board experience .
- Education: B.S. in Business Administration, Delta State University .
Equity Ownership
Not individually disclosed for Abney in the retrieved Target proxy excerpts. (Beneficial ownership tables for TGT directors were not present in the excerpts reviewed) .
Governance Assessment
- Strengths: Independent director with deep logistics/supply chain credentials aligned to Target’s operational risk oversight; service on Audit & Risk and Infrastructure & Finance enhances board effectiveness; current chair experience on FCX Compensation Committee indicates strong governance acumen .
- Alignment: Director pay structure emphasizes equity via RSUs and permits deferrals, reinforcing long‑term alignment; no performance pay minimizes conflict with shareholders’ interests for directors .
- Watch items: Multiple public board commitments (FCX, NOC) warrant ongoing monitoring for overboarding/time commitments; however, no disclosed attendance concerns or related‑party issues appear in retrieved materials .