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Target names Pepsi's Cornell as chairman, CEO
Target names Pepsi's Cornell as chairman, CEO

Target is bringing in an outsider as its CEO for the first time as the retailer fights to redefine itself to American shoppers. The Minneapolis-based company said Thursday that it named PepsiCo executive Brian Cornell to the top spot, replacing John Mulligan, who had been acting as interim chief executive since May. Mulligan had stepped into the temporary post after former CEO Gregg Steinhafel resigned following a large data breach in the runup to the holiday shopping season. Steinhafel had been dealing with problems on a number of other fronts too, including perceptions that Target is pricier than its rivals and concerns the company lost its touch for trendier offerings. Cornell,...

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