Target appoints Brian Cornell as Chairman and CEO

Target Corporation has named seasoned retail and consumer products veteran Brian

Cornell as the company’s next Chairman of the Board of Directors and Chief Executive Officer, effective August 12. Cornell joins Target with more than 30 years of experience at some of the nation’s leading retail and consumer product companies. As Target’s new CEO, Cornell’s top priorities will be accelerating the company’s performance and advancing Target’s omni-channel evolution.

Cornell most recently served as the Chief Executive Officer of PepsiCo Americas Foods, 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. Cornell also held the position of CEO at Michaels Stores, and prior to that, Executive Vice President and Chief Marketing Officer for Safeway.

“As we seek to aggressively move Target forward and establish the company as a top omni-channel retailer, we focused on identifying an extraordinary leader who could bring vision, focus and a wealth of experience to Target’s transformation,” said Roxanne S. Austin, interim Non-Executive Chair of the board.

Cornell earned a Bachelor’s Degree from the University of California Los Angeles (UCLA) and attended the Anderson Graduate School of Management. He currently serves on the Board of Visitors at the Anderson Graduate School of Management, as well as the Board of Directors at Polaris Industries.