Michael Fiddelke, Target's current chief operating officer, will replace CEO Brian Cornell on February 1 as the retailer works on its turnaround strategy.

El director general de Target, Brian Cornell, quien ayudó a revitalizar la compañía pero ha tenido dificultades para revertir las

Target (TGT) stock is plunging after the company announced that COO Michael Fiddelke will step up as CEO, succeeding current CEO Brian Cornell. Investor and retail expert Jeff Macke explains why Wall Street is so unimpressed with Target's decision to tap an insider to lead the company.