(Reuters) - Target Corp is hiring PepsiCo Inc executive Brian Cornell as its new chief executive, the Wall Street Journal reported. Target has been looking for a new chief executive after removing Gregg Steinhafel as chairman and CEO in May in the wake of a devastating data breach, which hurt the No.3 U.S. retailer's profit, shook customer confidence in the company and prompted congressional hearings. Steinhafel had been Target's CEO since 2008 and his departure also followed the company's botched multi-billion dollar expansion into Canada. The Minneapolis-based company had named its Chief Financial Officer John Mulligan as interim chief executive.
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