Brian Cornell

For the first time in its history Target Corp. has appointed a chief executive officer from outside the company, hiring Brian Cornell as chairman and CEO.

Cornell, 55, is a former president and CEO of Sam’s Club and most recently served as CEO of PepsiCo Americas Foods. Target’s chief financial officer, John Mulligan, had served as interim CEO of the discount store retailer since Gregg Steinhafel stepped down as chairman, president and CEO in May.

MINNEAPOLIS — For the first time in its history Target Corp. has appointed a chief executive officer from outside the company, naming Brian Cornell, former president and CEO of Sam’s Club and most recently CEO of PepsiCo Americas Foods, the largest of PepsiCo Inc.’s four divisions.

For the first time in its history Target Corp. has appointed a chief executive officer from outside the company, naming Brian Cornell, former president and CEO of Sam’s Club and most recently CEO of PepsiCo Americas Foods, the largest of PepsiCo Inc.’s four divisions.