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Target announced this morning that it has hired a new CEO to replace Gregg Steinhafel, who stepped down in May in the continued wake of Target's massive holiday security breach.
Brian Cornell, who most shoppers would not be able to pick out of a lineup of other old white man retail CEOs, comes from PepsiCo, Sam's Club, Safeway and Michael's. He has heavy grocery experience which is, perhaps, a sign that Target will continue to expand into that category. "Advancing Target's omnichannel presence," is at the top of his priority list, given that he has "an acute understanding of how important it is to connect stores, online and mobile." When queried about relocating to Minnesota from New York, he's all positives, saying he, "can't wait to spend more time at Target Field and Target Center." But he's also clearly concerned about the cold factor, admitting that he's looking into his next coat.
· Introducing Target's New Chairman and CEO Brian Cornell [A Bullseye View]
· Wow: Target's CEO to Step Down, Effective Immediately [Racked]
· Guess the Struggling Company That Pays Four of its Executives Way Over $20 Million [Racked]