LOUISVILLE, KY. — Brian C. Cornell, chairman and chief executive officer of Target Corp., has been appointed non-executive vice-chairman of Yum! Brands, Inc.’s board of directors. A member of Yum! Brands’ board since 2015, Mr. Cornell will succeed Robert D. Walter, who is retiring.

Mr. Cornell has more than 30 years of experience at leading retail and global consumer product companies. Prior to joining Target in August 2014, he was c.e.o. of PepsiCo Americas Foods. Before joining PepsiCo in 2012, Mr. Cornell was president and c.e.o. of Sam’s Club, a division of Wal-Mart Stores, Inc. He also held the position of c.e.o. at Michaels Stores, Inc. and, prior to that, executive vice-president and chief marketing officer for Safeway.

Mr. Cornell is chairman of the Retail Industry Leaders Association. He is also a member of the board of directors of Catalyst, a global nonprofit organization focused on empowering and accelerating women in business, and the Smithsonian’s National Museum of African American History and Culture.

“I’m thrilled that Brian Cornell has agreed to become non-executive chairman of Yum! Brands, ensuring a seamless transition of the board’s leadership,” said Greg Creed, c.e.o. of Yum! Brands. “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. I’m extremely confident that Brian will make an exceptional non-executive chairman of Yum! Brands as we continue to leverage the collective power of our iconic KFC, Pizza Hut and Taco Bell brands to help us deliver long-term sustainable growth and higher returns for our stakeholders.”