Target taps PepsiCo executive as new CEO: WSJ

Adam Jeffery | CNBC

Target Corp has tapped PepsiCoexecutive Brian Cornell as its new chief executive, turning to an outsider for the first time in its history to help lead the U.S. retailer struggling to meet Americans' changing shopping habits, the Wall Street Journal reports.

Cornell, age 55, who has led Pepsi's U.S. foods business for the past two years, steps into the role vacated three months ago by Gregg Steinhafel.

Read MoreRetail's game of musical chairs is likely not over

Target recently fell victim to a damaging security breach of its customers' credit and debit cards, an event that did nothing to help it in its struggle to cope with consumers making fewer trips to big-box stores and doing more shopping online.

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