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Brian Cornell

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Brian Cornell
Born1958
Queens, New York City, U.S.
Alma materUniversity of California, Los Angeles
OccupationBusinessman
Known forChairman & CEO of Target
Political partyDemocratic
Board member ofYum! Brands

Brian Cornell (born c. 1958) is an American businessman. Cornell serves as the Chairman and Chief Executive Officer (CEO) of the Target Corporation.

Early life

Brian Cornell was born in 1958 in Queens, New York City.[2] Cornell grew up in a fatherless household from the age of six, and his mother was living on welfare due to heart disease.[3] As a result, Cornell was mostly brought up by his maternal grandparents.[3] Cornell worked menial jobs as a teenager.[3]

Cornell graduated from the University of California, Los Angeles (UCLA) in 1981.[4][5] Cornell graduated from the Executive Program at the UCLA Anderson School of Management in 1991.[4][5]

Business career

Cornell served as the Chief Marketing Officer and the Executive Vice President of Safeway Inc., from 2004 to 2007.[5][6]

Cornell served as the CEO of Michaels from 2007 to 2009, the CEO of Sam's Club from 2009 to 2012.,[3] and the CEO of PepsiCo Americas Foods, a subsidiary of Pepsico, from 2012 to 2014.[5][6]

Cornell served on the Board of Directors of OfficeMax, from 2004 to 2007, and of The Home Depot, from 2008 to 2009.[5] Cornell serves on the Board of Directors of Centerplate and Polaris Industries.[2][5]

On August 12, 2014, Cornell replaced Gregg Steinhafel as the Chairman and CEO of Target.[6] Cornell's leadership style is at once data-driven and hands-on.[3] During his tenure, Cornell has shut down the loss-incurring Canadian presence known as Target Canada (formerly owned by Zellers).[3] Cornell has hired many outsiders to update the corporate culture.[3] Cornell occasionally visits Target stores and asks customers specific questions about their shopping experiences.[3].

LGBT activism

With Cornell as CEO of Target, the company has advocated for LGBT rights through a 2016 policy put in place allowing transgender individuals to use the restroom that correlates with their gender identity.[7] Target's policy announcement led to a boycott of Target by the American Family Association.[8] In 2017, Cornell claimed not to know about, or have approved, the policy before it was published. The policy cost his business US$20 million and caused sales to fall nearly 6% in the three quarters following.[9] Target's total value in the stock market (NYSE:TGT) is down almost $7 billion since the 2016 Boycott began, which is more than 20% of the company's value.[10][11]

Academic support

Cornell serves on the Board of Visitors[12] of the UCLA Anderson School of Management.[4] In November 2006, Cornell gave the commencement address.

References

  1. ^ http://www1.salary.com/Brian-C-Cornell-Salary-Bonus-Stock-Options-for-TARGET-CORP.html
  2. ^ a b "Investor Relations: BOARD OF DIRECTORS". Polaris. Retrieved 20 August 2015.
  3. ^ a b c d e f g h Wahba, Phil. "Target Has a New CEO: Will He Re-Energize the Retailer?". Fortune. Retrieved 20 August 2015.
  4. ^ a b c "Who's Who: Board of Visitors". UCLA Anderson School of Management. Retrieved 20 August 2015.
  5. ^ a b c d e f "Wal-Mart Stores Inc (WMT:New York): Brian C. Cornell". Bloomberg Business. Retrieved 20 August 2015.
  6. ^ a b c Loeb, Walter. "Target's New CEO Brian Cornell Lacks Innovative Pizzazz". Forbes. Retrieved 20 August 2015.
  7. ^ Post, Washington. "Target: Customers welcome in fitting rooms, bathrooms corresponding with 'gender identity'". chicagotribune.com. Retrieved 2016-06-01.
  8. ^ "Sign the Boycott Target Pledge!". American Family Association. Retrieved 2016-06-01.
  9. ^ Hayley Peterson (April 6, 2017). "The Target boycott cost more than anyone expected — and the CEO was blindsided". Yahoo! News. Business Insider.
  10. ^ https://finance.yahoo.com/quote/TGT?p=TGT
  11. ^ "Sign the Boycott Target Pledge!". American Family Association. Retrieved 2016-06-01.
  12. ^ http://www.econ.ucla.edu/about/?p=bov
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