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Target Appoints PepsiCo's Brian Cornell As New CEO, Chairman(dpa-AFX International Compact Via Acquire Media NewsEdge) PURCHASE (dpa-AFX) - Discount-store operator Target Corp (TGT) announced Thursday that its Board of Directors has named retail and consumer products veteran Brian Cornell, 55, as the company's next chairman of the Board of Directors and chief executive officer, effective August 12. Cornell succeeds Gregg Steinhafel, who in May announced his decision to step down in the wake of a massive data breach that compromised personal data of millions of customers in the holiday shopping season. As Target's new CEO, Cornell's top priorities will be accelerating the company's performance and advancing Target's omnichannel evolution. Cornell most recently served as the chief executive officer of PepsiCo Americas Foods of Beverages giant PepsiCo, Inc. (PEP), where he oversaw the company's global food business, the largest of PepsiCo's four divisions. Before joining PepsiCo in 2012, Cornell served as president and CEO of Sam's Club, a division of Wal-Mart Stores, Inc. "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," said Roxanne Austin, interim non-executive chair of the board. Copyright RTT News/dpa-AFX |