Target Corp. named veteran Michael Fiddelke as its next chief executive officer, betting that the insider will revive the storied retailer struggling with weak sales.

Target Corp. on Wednesday named Michael Fiddelke as its new chief executive, promoting the company veteran who has served as chief operating officer since February. Fiddelke, 49, will succeed Brian Cornell, who led the Minneapolis-based retailer for 11 years through a period of significant growth and recent challenges.

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.

Target Corp. is leading the S&P 500 index’s decliners after the discount retailer announced that Chief Executive Brian Cornell is stepping down next year, to be replaced by the company’s Chief Operating Officer Michael Fiddelke.

Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

Target Corporation shares tumbled 11% after COO Michael Fiddelke was named CEO, succeeding Brian Cornell. The leadership shift comes amid weak sales, customer churn, and operational challenges. Cornell will transition to executive chair effective February 2026.

Target Corp. and its board of directors has elected Michael Fiddelke, chief operating officer, to succeed Brian Cornell as CEO.

Target's Q2 earnings beat estimates, but profitability remains under pressure with declining margins and net income down over 20%. Click for my TGT update.