Brian Cornell

Brian Cornell
Cornell in 2024
Brian Cornell
Born	1959
Birthplace	New York City, New York, U.S.
Nationality	American
Occupation	Business executive
Title	Chairman and CEO of Target Corporation
Known for	Leading Target Corporation's transformation strategy
Spouse(s)	Martha Cornell
Children	2
Awards	CNN Business CEO of the Year (2019)

Brian C. Cornell (born 1959) is an American business executive who served as the chairman and chief executive officer (CEO) of Target Corporation from 2014 to 2026. Appointed as an outsider to lead one of the nation's largest retailers, Cornell oversaw a period of significant strategic transformation at Target, investing billions in store remodels, expanding same-day fulfillment services, and growing the company's portfolio of owned brands. His tenure encompassed both periods of strong growth—including record performance during the COVID-19 pandemic—and later challenges marked by declining consumer confidence, inventory missteps, and cultural controversies. In August 2025, Cornell announced he would step down as CEO effective February 1, 2026, to be succeeded by chief operating officer Michael Fiddelke, while Cornell would transition to the role of executive chairman. Beyond Target, Cornell has served as non-executive chairman of Yum! Brands and held leadership roles at several other major consumer-facing companies, including PepsiCo, Safeway, Sam's Club, and Michaels Stores.

Early Life

Brian C. Cornell was born in 1959 in New York City. Details about his upbringing and family background prior to his college years are limited in publicly available records. He grew up in the New York metropolitan area before attending college in California.

Education

Cornell earned a Bachelor of Arts degree from the University of California, Los Angeles (UCLA). UCLA's economics department has also recognized Cornell among its notable alumni. He has maintained a connection with the university throughout his career.

Career

Early Career and Pre-Target Roles

Before joining Target, Cornell built an extensive career across several major consumer and retail companies over approximately three decades. His executive experience spanned multiple sectors of the retail and consumer goods industries. He held senior leadership positions at PepsiCo, where he gained experience in the consumer packaged goods sector, and at Safeway, one of the largest supermarket chains in North America.

Cornell served as president and CEO of Michaels Stores, the arts and crafts retail chain, further broadening his experience in specialty retail. He also served as CEO of Sam's Club, the membership warehouse club division of Walmart, giving him direct exposure to large-format, value-oriented retail operations at scale.

When Target announced Cornell's hiring in 2014, some retail analysts noted his broad but varied background across different retail segments. Writing in Forbes, retail analyst Walter Loeb observed that Cornell's appointment as CEO came without what Loeb considered a track record of retail innovation, though he acknowledged Cornell's extensive executive experience.

Appointment as Target CEO

Cornell was named CEO of Target Corporation in August 2014, succeeding Gregg Steinhafel, who had resigned earlier that year amid the fallout from a massive data breach that compromised the personal and financial information of tens of millions of Target customers. Cornell was a notable choice as an external hire; Target had historically promoted from within for its top leadership positions. His appointment signaled the board's desire for fresh perspectives and new strategic direction for the company, which was grappling with the aftermath of the data breach as well as broader competitive pressures from both e-commerce rivals and discount retailers.

Strategic Transformation

Upon taking the helm at Target, Cornell embarked on what became a multi-year, multi-billion-dollar transformation of the company's operations, stores, and brand strategy. Central to this effort was a significant investment in remodeling Target's fleet of approximately 1,900 stores across the United States, updating their layouts, aesthetics, and operational capabilities to support modern shopping habits including same-day fulfillment options such as in-store pickup, drive-up service, and delivery through the company's Shipt subsidiary.

Under Cornell's leadership, Target also aggressively expanded its portfolio of owned and exclusive brands across categories including apparel, home goods, and food and beverage. These private-label brands became a key differentiator for the company, helping to drive customer traffic and improve profit margins by offering products that could not be directly price-compared with competitors' offerings.

Cornell also oversaw Target's expansion into smaller-format stores in urban markets and near college campuses, allowing the company to reach customers in densely populated areas where traditional large-format stores were impractical. These initiatives were part of a broader effort to reposition Target as a modern, omnichannel retailer that could compete effectively against both Amazon in e-commerce and Walmart in value-oriented physical retail.

COVID-19 Pandemic and Peak Performance

The COVID-19 pandemic proved to be a pivotal period for Target under Cornell's leadership. As consumers shifted their purchasing patterns during lockdowns and social distancing measures, Target's prior investments in same-day fulfillment services—including drive-up, order pickup, and Shipt delivery—positioned the company to capture a significant surge in demand. The company experienced record sales growth during 2020 and 2021, with its revenue and market share expanding substantially as consumers relied on Target for both essential goods and discretionary purchases.

This period of strong performance under challenging circumstances contributed to Cornell's recognition in the business community and strengthened his position within the company. The pandemic-era results were widely viewed as validation of the multi-year investment strategy Cornell had championed since his arrival.

Post-Pandemic Challenges

Following the pandemic-driven peak, Target faced a series of challenges that tested Cornell's leadership and complicated his legacy. As consumer spending patterns shifted again in 2022 and 2023, Target struggled with inventory management issues, finding itself overstocked in discretionary categories such as home goods and apparel at a time when consumers were redirecting spending toward experiences and essentials due to inflationary pressures.

The company was forced to take significant markdowns to clear excess inventory, which compressed profit margins and led to a period of weaker financial results. Target's stock price declined from its pandemic-era highs, and the company experienced what Modern Retail described as "a dismal few quarters" heading into 2025.

Target also became embroiled in cultural and political controversies, particularly surrounding its Pride Month merchandise in 2023, which drew backlash from some consumers and advocacy groups. The company's handling of the situation—which involved pulling some merchandise from stores—drew criticism from multiple sides of the debate and became a recurring challenge for Cornell's leadership team.

An assessment published by Axios in January 2026 characterized Cornell's tenure as a "mixed legacy," acknowledging the significant strategic investments and modernization he led while also noting the challenges and controversies that marked his later years at the company.

Contract Extension and Succession

In September 2022, Target announced that Cornell's contract had been extended, keeping him as chairman and CEO for approximately three more years. This extension came at a time when Target was navigating post-pandemic challenges and reflected the board's confidence in Cornell's long-term strategic vision for the company.

On August 20, 2025, Target announced that Cornell would step down as CEO effective February 1, 2026, and would be succeeded by Michael Fiddelke, the company's chief operating officer, who had spent his entire career at Target. Cornell was to transition to the role of executive chairman of Target's board of directors.

Yahoo Finance described Target as being at "one of the most pivotal moments in its 63-year history" at the time of the leadership transition, noting both the challenges facing the company and the significance of selecting an internal candidate as Cornell's successor.

The announcement that Cornell would remain as executive chairman drew opposition from some shareholders. In October 2025, an activist investor group filed a shareholder proposal calling for Target to install an independent board chair rather than allowing Cornell to retain the chairmanship after stepping down as CEO.

Yum! Brands Chairmanship

In addition to his role at Target, Cornell joined the board of directors of Yum! Brands, the parent company of fast-food chains including KFC, Taco Bell, and Pizza Hut, in 2015. He subsequently became the non-executive chairman of Yum! Brands' board.

Industry Leadership

Cornell served as chairman of the Retail Industry Leaders Association (RILA), a trade organization representing major retail companies in the United States.

Personal Life

Brian Cornell is married to Martha Cornell, and the couple has two children. Details about his personal life beyond these facts are limited in public records. Cornell has largely maintained a distinction between his public corporate role and his private family life.

Following the murder of George Floyd in Minneapolis in May 2020—in the city where Target is headquartered—Cornell spoke publicly about the impact the event had on him personally and on the company. In an interview with CNBC, Cornell stated that Floyd's murder pushed him to take more concrete action on issues of racial equity and inclusion within Target and in the broader community.

In January 2026, as Cornell was preparing to leave the CEO role, a meeting was scheduled between Cornell and faith leaders, though the meeting was rescheduled.

Cornell's total compensation as Target CEO was a subject of public reporting. The Star Tribune reported on his compensation package, which included salary, stock awards, and other incentive-based pay consistent with CEO compensation at major publicly traded retail companies.

Recognition

Cornell received several notable recognitions during his tenure at Target. In December 2019, CNN Business named him "CEO of the Year," citing Target's strong financial performance and the success of the company's multi-year investment strategy under his leadership. The recognition highlighted the effectiveness of the company's store remodel program and its expansion of same-day fulfillment services.

In 2022, RIS News named Cornell its "Visionary of the Year," recognizing his leadership in transforming Target's retail operations and strategy.

Cornell was also recognized by Fortune as part of its CEO Initiative coverage, which profiled corporate leaders engaged in addressing social and business challenges.

Beyond corporate awards, Cornell served on the boards of several nonprofit organizations. He was a member of the board of directors of Catalyst, an organization focused on advancing women in the workplace. He also served on the advisory council of the National Museum of African American History and Culture (NMAAHC), part of the Smithsonian Institution.

Legacy

Brian Cornell's twelve-year tenure as CEO of Target Corporation left a complex and multifaceted legacy. As assessed by Axios in January 2026, his leadership encompassed significant strategic achievements alongside notable setbacks, making a simple evaluation of his impact difficult.

On the positive side of the ledger, Cornell is credited with fundamentally modernizing Target's operations and customer experience. His decision to invest heavily in store remodels and same-day fulfillment capabilities positioned Target to thrive during the COVID-19 pandemic and established infrastructure that continued to serve the company. The expansion of Target's owned-brand portfolio created a differentiated product offering that distinguished the retailer from its competitors. These strategic investments were made at a time when many traditional retailers were retreating from physical stores, and they demonstrated a conviction in the viability of an omnichannel retail model.

Retail Dive noted that Cornell "shaped the mass retailer's reputation and performance for over a decade," acknowledging the breadth of his influence on the company's direction.

However, the later years of Cornell's tenure were marked by challenges that tempered assessments of his overall record. The inventory management difficulties of 2022 and 2023, the cultural controversies surrounding Target's merchandise decisions, and a period of weaker financial performance leading up to his departure all contributed to a more complicated picture. The activist investor challenge to his proposed role as executive chairman reflected ongoing concerns among some shareholders about governance and performance.

Cornell's selection of an internal successor in Michael Fiddelke—after Cornell himself had been an external hire—represented a return to Target's historical preference for promoting from within and suggested confidence in the leadership pipeline he had helped develop during his tenure.