Target CEO Brian Cornell was appointed to the board of directors for Yum Brands, which includes KFC, Pizza Hut and Taco Bell restaurants. Cornell has more than 30 years of experience in retail and global consumer product companies.
Cornell took over as CEO and chairman at Target just over one year ago. He has led Target through a digital transformation and a strategic plan that involves several rounds of layoffs to cut $2 billion in costs. The big-box retailer's sales have risen for six straight quarters.
"Brian will make an outstanding addition to the Yum Brands board of directors," said David Novak, executive chairman of Yum Brands. "Brian is a seasoned retail and consumer products veteran. He brings a wealth of knowledge and best practices to Yum, leading one of the largest and most innovative retail companies in the world."
Prior to Target, he was CEO of PepsiCo Americas Foods, where he oversaw the largest of PepsiCo's four divisions, including Frito-Lay North America and Quaker Foods brands.
Cornell was also president and CEO of Sam's Club for three years and CEO at Michaels Stores for two years. Starting in 2004, he was chief marketing officer and exec-VP at Safeway for three years.
Yum Brands is based in Louisville, Kentucky, and operates more than 41,000 restaurants in 125 countries and territories. Press Release