Target announced that Michael Fiddelke, chief operating officer, will become the next CEO on Wednesday. File Photo by UPI/Brian Kersey | License Photo
Target on Wednesday announced that Cheif Operating Officer Michael Fiddelke will be the company’s next cheif executive officer.
Target’s board of directors unanimously voted for Fiddelke to succeed current CEO Brian Cornell effective on Feb. 1, 2026.
“Fiddelke has been instrumental in building many of the company’s core strengths, holding leadership roles across merchandising, finance, operations, and human resources,” the company said in a press release.
The company reported its fiscal second-quarter results, which topped Wall Street’s quarterly sales and earnings expectations, but its annual sales declined.
Target’s annual sales have been flat the past four years, and Fiddelke told reporters on a call he was “stepping in with urgency to rebuild momentum and return to profitable growth.”
“I know the power of our brand, the talent of our team and the special place we hold in retail,” Fiddelke said in a statement. “My history with the company also deepens my sense of responsibility for where Taget goes next, and I step into the role with an urgent commitment to drive growth and deliver better results.”
Cornell, who will move on to a role as chair of Target’s board of directors, offered praise for Fiddelke.
“There is no one better suited to move Target forward than Michael Fiddelke. He brings a remarkable level of resolve in the face of complex challenges, a deep passion for growth, and a natural ability to inspire those around him to define what’s next,” Cornell said.
