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.”
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