Target Taps PepsiCo for New CEO in Brian Cornell
Target Corporation is still picking itself up after the fallout from its massive security breach last November, restructuring its corporate governance with the resignation of several high ranking executives – up to and including Target CEO Gregg Steinhafel stepping down in May 2014. That resignation left CFO John Mulligan in charge of the nearly-2,000 location discount retail chain until an appropriate replacement could be found to lead the chain forward. Nearly three months later, Target has found that leader in Brian Cornell – the first CEO brought in from outside in Target’s history.
Effective as of August 12, Brian Cornell will be stepping up to the plate as the new CEO and Chairman of the Board at Target Corporation. With the intense turnover of Target’s executive team over the past year, it makes sense that the brand looked elsewhere for a CEO with previous experience – but if he didn’t come from Target, where did Cornell get the experience that Target needs?
Cornell was brought over from PepsiCo, where he had served as CEO of the brand’s Americas Foods division since 2012. It’s a smart move, as Cornell has a proven track record: PepsiCo recently posted an expectation-exceeding 4 percent sales growth in its Americas Foods division, thanks to Frito-Lay and further growth in the global snacks segment. Numbers like these show that Cornell knows how to aggressively move a brand forward toward growth, while Cornell’s prior roles as CEO of Michaels Stores and President and CEO of Walmart subsidiary Sam’s Club shows that Cornell also has the chops to carry a major retail chain. According to a press release from Target, that combination of traits is exactly what the chain is looking for in a new chief executive:
Cornell also expressed optimism about the new role he’s taking on, and his plans for moving forward:
It’s a bold move, and a new direction for Target. But this injection of a fresh vision could be just what the brand needs to put a troubled year behind it and take business to the next level.
Hy-Vee and Google Cloud partner
Hy-Vee has signed a multiyear partnership with Google Cloud to stay on the cutting edge of digital technology and drive innovation for its customers – both in store and online.
One of the most popular grocery stores in the USA, Hy-Vee is an employee-owned corporation headquartered in Iowa with a revenue of $11b.
Google Cloud services will support Hy-vee customers
While Hy-Vee has worked to stay at the forefront of digital shopping trends, the COVID-19 pandemic affected grocery shopping in many ways, causing more consumers to shop online and create higher demand in its virtual shopping space.
Utilizing Google Cloud’s solutions, localised information and features will make it easier for customers to complete their grocery shopping online and allow Hy-Vee to provide more personalized service and easier ordering.
The company is utilsing a suite of services powered by Google Cloud to:
- Make online shopping easier for customers who use its Hy-Vee Aisles Online services,
- To integrate Hy-Vee’s virtual dietitian services
- To enable customers to schedule vaccinations online including the COVID-19 vaccine.
The continued integration of Google Cloud services will help Hy-Vee launch future innovations as the company fulfills its mission of making customers’ lives easier.
Hy-vee is bringing innovative technology to customers
As recently reported in Food Digital, Kroger has started a drone delivery service for customers in Ohio. Now Hy-Vee has found another unique way to deliver to customers an improved shopping experience.
“The pandemic accelerated many digital initiatives for Hy-Vee as consumers shifted the way they shopped at our stores,” said Aaron Wiese, President, Digital Growth, and Co-Chief Operating Officer at Hy-Vee. “Google Cloud is helping us provide a unique and more personalized experience as we work to integrate all our digital platforms and look to further simplify the customer’s interaction with our services – whether that be in our aisles in person or online.”
“Hy-Vee is leading the way in bringing innovative technologies to its customers,” said Jim Anderson, Managing Director for Google Cloud. “We’re proud to partner with Hy-Vee to streamline processes and power innovative digital experiences. As they look toward the future, our services will help accelerate the grocer’s plans to be the best place to shop.”