Target names Michael Fiddelke CEO
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In addition to announcing its Q2 2025 results, Target also revealed that it would be getting a new CEO. The company announced that its current CEO, Brian Cornell, will be stepping down from the role in February 2026. On February 1, its new CEO, Michael Fiddelke, will take the reins. Cornell has been Target’s CEO since 2014.
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.
A redoubled focus on style “may not be enough in a retail landscape where convenience, selection and speed have rapidly evolved and redefined the competitive landscape,” according to one analyst.
His successor, Michael Fiddelke, is a company insider; analysts were hoping for big changes. Target's board unanimously appointed Michael Fiddelke to replace current CEO Brian Cornell, who has led the company since 2014. Cornell will officially step down ...
Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.
Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.
Target (TGT) stock is sinking after the company announced that COO Michael Fiddelke will succeed current CEO Brian Cornell. Mizuho Americas director and senior analyst David Bellinger and Roth Capital Partners senior research analyst Bill Kirk join Market Catalysts to discuss what investors want to see out of Target and to explain why the market is worried the incoming CEO isn't up to the challenge.
Chief Operating Officer Michael Fiddelke, who will take the top job in February, said the retailer needs to revive its focus on stylish merchandise.