Target, Brian Cornell and CEO
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Michael Fiddelke will become Target's new CEO in February 2026, completing a remarkable 22-year journey from company intern to chief executive.
Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.
Target names insider Michael Fiddelke new CEO, succeeding Brian Cornell, who led retailer since 2014
Target ( TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history.
Michael Fiddelke joined Target as an intern while studying for an MBA. He's since worked in merchandising, finance, operations, and human resources.
On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.