Target, Michael Fiddelke
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Target, Lead Turnaround
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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.
General merchandise retailer Target (NYSE:TGT) reported revenue ahead of Wall Street’s expectations in Q2 CY2025, but sales were flat year on year at $25.21 billion. Its non-GAAP profit of $2.05 per share was 0.
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.
Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back