He’s over one of the world’s most popular retail brands, but who is the Target CEO? Brian Cornell is one of the most highly-paid executives in the industry. He’s also been in the retail space for more than two decades, during which he has helped grow companies into the world’s leading retailers.
Along with this, he’s a tireless workaholic. Cornell is famous for his hands-on approach to running Target. For example, he frequently visits stores, participates in product demonstrations, and always looks for ways to improve the company’s performance.
In this blog post, we’ll take a look at Brian Cornells’ biography, assets, net worth, and income. So let’s jump in:
Target CEO – Brian Cornell’s Biography
Early Life
Brian Cornell was born in Queens, New York, in 1958. He grew up in a fatherless home, and his mother was on welfare support due to heart disease. Consequently, most of his early life was spent with his grandparents.
However, the experience of growing up without a father profoundly impacted Brian, teaching him the importance of self-reliance at an early age. This led him to pursue a career in business and ultimately become the Target CEO.
Brian Cornell is known for his innovative ideas and visionary leadership, turning Target into one of the world’s leading retail companies.
Academic Background
Target CEO Brian Cornell has an impressive academic background, which helped him achieve success in the business world.
He earned a bachelor’s degree from UCLA in 1981 and later attended the Anderson School of Management. His first job based on his academic qualification was at Seagram Company Ltd. in 1984.
Career Achievements
Before joining Target, Brian worked in leadership roles for over 30 years, including CMO at Safeway and CEO at Sam’s Club, Michaels, and PepsiCo.
After starting his career at Seagram Company Ltd. in 1984, he joined PepsiCo and climbed ranks to be their Senior VP of Sales. Then he left PepsiCo for a CMO designation at Safeway Inc. in 2007.
Cornell then switched companies multiple times from Michaels to Wal-Mart, Sam’s Club, and once again Pepsi in leadership roles until joining Target in 2014.
Brian Cornell has also been named the 2022 Visionary by the NRF. CNN also named him the Top CEO of The Year.
Joining Target and Becoming CEO
Joining Target as the CEO during some bad days for the company was no easy feat. With his innovative retail strategies, he has been credited with turning Target around during its financial crisis in 2013-2014. He achieved remarkable milestones during his time at the company, including introducing new products, increasing profits, etc.
Under his leadership, Target has become one of the leading retailers in the United States and holds recognition for its low prices and high customer service standards. His experience and expertise will be invaluable as the company grows and expands into new markets.
Brian Cornell’s Net Worth and Income
Cornell’s net worth and income are testaments to his successful career in the retail industry. As the president and CEO of Target, he makes an annual income of $19.8 million as of 2021.
Furthermore, he owns several properties, vehicles, and stocks that add to his total net worth of over $83 million. He also owns Target Corp Stocks worth over $26.8 million.
The History of Target
Target has come a long way since its humble beginnings as a Dayton retailer selling private-label merchandise door-to-door. In early 1902, George Draper Dayton incorporated Target as Goodfellow Dry Goods, but the name was changed to Dayton Dry Goods Company the next year, and then to Dayton Company in 1911.
The first Target store opened in 1962 under the lineup of Dayton’s department stores. Then in 1969, Dayton merged with J.L Hudson Company and became Dayton-Hudson Corporation.
By 1975, Target became the leading revenue generator for Dayton-Hudson Corporation with annual revenue of $1 billion by 1979.
Today, Target operates over 1,920 stores throughout the U.S and is one of the Fortune 500 companies. With such a rich history and impressive track record, it’s no wonder Target is famous.
Parting Words
Target is a retail giant that has made a name for itself by catering to the modern consumer’s needs. From groceries to clothing, everything you need is right at your fingertips at affordable prices!
However, it saw its fair share of hiccups, especially in 2013-14. This was when it required solid leadership that could handle the data breach lawsuit and navigate the company towards growth during its worst PR nightmare.
Brian Cornell proved to be that leader, and if we learn one thing from his life, it’s no matter how humble your beginnings are, consistency and competency are the two things that’ll get you far in life.
Related Posts:
