By  on May 19, 2014

Gregg Steinhafel will receive about $15.9 million in severance and other benefits following his dismissal as chief executive officer of Target Corp.

The company said in a series of filings with the Securities and Exchange Commission Monday that Steinhafel will remain at Target until as late as Aug. 23 to assist in the transition in management. John Mulligan, chief financial officer, has been named interim president and ceo and Roxanne Austin, a director, has been appointed interim chair.

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