WASHINGTON — The National Retail Federation will recognize Target chairman and chief executive officer Brian Cornell with its The Visionary award, which will be presented during the seventh annual NRF Foundation Honors event in New York City. CVS Pharmacy president Neela Montgomery will also be honored as one of the People Shaping Retail’s Future 2022.

The Visionary award is presented each year to a retail executive who has driven positive change for the industry. NRF says Cornell was selected for his success in creating a business model and culture that stems from Target’s core purpose: Helping all families discover the joy of everyday life. He has prioritized investing in team members and placing stores at the center of Target’s omnichannel strategy to better serve the thousands of communities Target reaches.

“Brian Cornell’s purpose-driven leadership and strategic vision reflect an unwavering commitment to his team, and a keen ability to cut through the noise and truly understand what American families want and need,” NRF president and CEO Matthew Shay says. “From spearheading billions of dollars in investments in Target’s team and bold business strategy, to cultivating a culture of care among hundreds of thousands of employees, to helping guide the industry throughout the challenges of the pandemic, Brian is an inspiring and innovative leader committed to making a positive impact inside and outside his company. Brian’s career and servant leadership are exemplary of why The Visionary award was created.”

Past recipients include Kohl’s CEO Michelle Gass; Nike chairman, president and CEO Mark Parker; Walmart president and CEO Doug McMillon; and Levi Strauss & Co. president and CEO Chip Bergh.

“Years of bold investments in our strategy and capabilities have enabled our team to meet the needs of American consumers in any environment, including through the unprecedented challenges of the pandemic,” Cornell says. “I couldn’t be more grateful to NRF for recognizing how Target’s 350,000 team members are putting our purpose and values, our unique business strengths, and our size and scale to work for all families, as we drive toward better outcomes for all people and the planet.”

Cornell will also be a keynote speaker at NRF’s 110th annual convention, NRF 2022: Retail’s Big Show. Nearly 30,000 retailers, vendors and industry leaders from countries around the world will gather in-person in New York City January 16 to January 18 to showcase the next chapter of retail.

Montgomery, who is executive vice president of CVS Health as well as president of CVS Pharmacy, is one of five retail leaders who will be celebrated as People Shaping Retail’s Future. Also being honored are:

• Five Below Inc. president and CEO Joel Anderson.

• McDonald’s Corp. president and CEO Chris Kempczinski.

• Chewy Inc. CEO Sumit Singh.

• The RealReal founder and CEO Julie Wainwright.

“This year’s honorees have each led their companies through incredible changes,” says Jeff Gennette, chairman and CEO of Macy’s Inc. and chairman of the NRF Foundation board of directors. “They have remained steadfast in their commitment to their teams and communities, and I am proud to recognize The List 2022’s influence on our industry.”

The 2022 Honors will take place on January 16 at the Marriott Marquis Times Square and will be co-hosted by Gennette and NRF board chairman Mike George, who is retiring this year as president and CEO of Qurate Retail Inc.