Target Names Cornell CEO

Target said Thursday that it has named Brian Cornell its new CEO, a rare outside executive hire for the company.

Cornell, formerly the CEO of PepsiCo Americas Foods and president of CEO of Sam’s Club before that, joins Target as the company continues to recover from last year’s major security breach.

“As we seek to aggressively move Target forward and establish the company as a top omnichannel retailer, we focused on identifying an extraordinary leader who could bring vision, focus and a wealth of experience to Target’s transformation,” Roxanne S. Austin, interim non-executive chair of the board, said in a statement. “The Board is confident that Brian’s diverse and broad experience in retail and consumer products as well as his passion for leading high performing teams will propel Target forward.”

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