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Target has tapped former PepsiCo executive Brian Cornell as its new CEO, the Wall Street Journal reported. The appointment marks the first time the retailer, which traditionally promotes from within, has hired an outsider to lead the company.
Cornell will take the reins at a time when Target is facing tremendous setbacks. Consumer confidence in the retailer remains shaky after last year’s data breach, in which hackers stole personal and financial data from as many as 110 million people.