Target Hires New CEO
Target has named Brian Cornell its new CEO. Cornell, Chief Executive Officer of Pepsi Americas Foods, assumes his this position on 12 August 2014. Target has been troubled with slumping sales and a informations systems breach that caused 1,000’s of credit card numbers to be compromised, has been been looking for a new CEO since it’s current CEO resigned in May 2014.
Before Pepsico, Cornell, 55, served as president and ceo of Sam’s Club. This is Targets first hiring of a CEO outside the company, as all previous CEO’s came up through the ranks. This shift will change the corporate culture of Target as they try to right the ship.
In a statement, Cornell said, “As we create the Target of tomorrow, I will focus on our current business performance in both the U.S. and Canada and on how we accelerate our omnichannel transformation.”
Target Retail stores are throughout the United States and Canada.