News

Target chief to chair Yum Brands board

November 22, 2018

Target Chairman and CEO Brian C. Cornell has been tapped to serve as non-executive chairman of the Yum! Brands board.

Cornell has served on the 's board for three years, according to a press release, and succeeds non-executive chair, Robert D. Walter, who is retiring.

"We sincerely thank Bob Walter for his strong leadership, invaluable insights and many significant contributions to Yum! Brands, particularly during this exciting and transformative time for our company as we're becoming more focused, more franchised and more efficient," Yum Brands CEO Greg Creed, said in the release. 

"At the same time, I'm thrilled that Brian Cornell has agreed to become bon-executive chairman of Yum Brands, ensuring a seamless transition of the board's leadership. Brian's tremendous leadership of one of the world's largest and most innovative retailers has brought a unique perspective and wealth of knowledge, consumer insights and best practices to Yum Brands."

Cornell has more than 30 years of experience leading retail and global consumer product companies. Prior to joining Target in August 2014, he served as CEO of PepsiCo Americas Foods, president and CEO of Sam's Club, CEO at Michaels Stores and executive vice president and CMO at Safeway. 

Cornell serves as chairman of the Retail Industry Leaders Association and is  a member of the board for global nonprofit, Catalyst, and the Smithsonian's National Museum of African American History and Culture.

"I'm honored and pleased to serve in a greater leadership role for one of the world's largest restaurant companies with category-leading brands," Cornell said in the release. "As customer preferences and purchase behaviors evolve, Target and Yum! Brands are already elevating and transforming our respective customer experiences with digital, retail and global consumer insights. I look forward to contributing to the next wave of growth for Yum! Brands."