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Target Names New CEO

Minneapolis —Target has named Brian Cornell as its CEO and chairman of its board of directors, effective Aug. 12.

Cornell most recently served as the CEO of PepsiCo Americas Foods, where he was responsible for such brands as Frito-Lay North America, Quaker Foods, and PepsiCo’s Latin America food and snack businesses.

Before joining PepsiCo in 2012, he served as president and CEO of Sam’s Club, and was also previously CEO of Michaels Stores.

Target has been undergoing major management adjustments since its poor holiday selling season, which was marred by a very public data breach. Gregg Steinhafel, chairman, president and CEO, resigned in the spring, while three new execs were brought on last month.