Target Names PepsiCo Exec Brian Cornell To Be New CEO

Target named PepsiCo executive Brian Cornell as the retailer’s new CEO and chairman, about three months after former CEO Gregg Steinhafel stepped down in the aftermath of a major holiday data breach. Cornell will replace interim CEO John Mulligan when he assumes his role as Target CEO Aug. 12. Cornell also previously served as CEO of Sam’s Club and Michael’s craft stores, and as chief marketing officer at Safeway. He became CEO of PepsiCo Americas Foods in March 2012.