Target Appoints Michael Fiddelke as CEO Amid Efforts to Revitalize Growth
Target Corporation has named Michael Fiddelke as its next Chief Executive Officer, effective February 1, 2026, succeeding Brian Cornell, who will transition to executive chair.
Target Corporation has announced that Michael Fiddelke, currently serving as Chief Operating Officer, will assume the role of Chief Executive Officer on February 1, 2026. He will succeed Brian Cornell, who will transition to the position of executive chair of the Board of Directors.
Fiddelke, 49, has been with Target for over two decades, beginning his career as an intern in 2003. Over the years, he has held various leadership positions across merchandising, finance, operations, and human resources. Prior to his current role as COO, he served as Chief Financial Officer from late 2019 to early 2024.
In his new role, Fiddelke aims to focus on enhancing product design, improving customer experience, and accelerating technological investments to drive growth. He emphasized the need to "move faster, much faster" in implementing these strategies.
The leadership transition comes as Target faces challenges such as declining sales and increased competition from retailers like Amazon and Walmart. In the second quarter, the company reported a 0.9% decrease in net sales to $25.2 billion and a 22% drop in net profit compared to the previous year.
Fiddelke's appointment marks a return to internal promotions for Target's top leadership, as he began his career at the company and has held multiple key roles. His extensive experience within the organization is expected to provide continuity and insight as Target works to regain its market position.
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