Article originally appeared on www.foxnews.com.
Corporate boards long tasked with fiduciary responsibilities to their shareholders are scrutinizing how Target allowed itself to become embroiled in social scandal big enough to cause a nearly $15 billion loss in market cap, “Shark Tank” star investor Kevin O’Leary told Fox News on Monday.
Since the backlash over its Pride merchandising controversy, Target’s market value has fallen over $13 billion to $60.24 billion as of Monday’s closing price. O’Leary, head of O’Leary Ventures, said the future is likely to bring a complete change in how corporate America approaches certain concerns like the processes that led to Target’s “unprecedented” cliff-dive.
“On one hand, companies want to show their support of diversity in all the mandates that society is discussing openly,” he said on “Jesse Watters Primetime.” On the other hand, the job of a business — particularly from the perspective of an investor — and those that are retired, for example, …
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