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Target’s in a brand identity crisis. It’s not alone

Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.

New Target CEO, a former CFO, ‘must prove he’s not just another insider,’ executive recruiter says

Target CEO Brian Cornell is stepping down, and Michael Fiddelke, chief operating officer (COO), will become chief executive on Feb. 1, 2026. Cornell has led Target for 11 years. Fiddelke began his career at Target as an intern in 2003.

Target CEO Brian Cornell steps down; Michael Fiddelke takes over after weak quarter

Michael Fiddelke, Target's current chief operating officer, will succeed Brian Cornell as chief executive officer, the company said in a release. Cornell, who has served as the company's CEO since 2014, will step down and Fiddelke will take over the role on Feb. 1, 2026.

The next Target CEO knows the retailer needs to do better. Here's his 3-part plan to get it back on track.

Incoming Target CEO Michael Fiddelke has been leading the retailer's acceleration effort to combat falling sales. He laid out plans to restore growth.

Why Target is falling behind Walmart

Rivals Target and Walmart have long been considered polar opposites. The biggest difference lately, though, is financial performance, underscored by the retailers' earnings reports this week.

As Target Names New CEO, Stock Tumbles 10% As DEI Hit And Tariffs Drag On Sales

As Target announces a new CEO, the retailer is reporting declines in revenue and operating income. As shares tumble 10% their DEI pullback & tariffs are dragging on sales

Cracker Barrel joins Bud Light, Target in branding backfires

Cracker Barrel joins Target, Bud Light and other companies facing public outcry over corporate decisions as its new logo change triggers investor unease.

Popular retailer replacing Ulta Beauty inside Target

While shoppers will lose out on getting Ulta Beauty products within Target starting next year, another popular retailer will be moving into Target. Eyeglass retailer Warby Parker will open shops inside Target stores under their new partnership, Warby Parker at Target.
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