Target named longtime company veteran Michael Fiddelke as its CEO, replacing retail industry bigwig Brian Cornell, effective February 1, 2026.

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.

Fiddelke acknowledged many of these problems on Wednesday, saying Target was “urgently adjusting” to tariffs and changing consumer needs, embracing technology to automate manual work, and working to mend problems like slow decision-making, siloed internal goals, and a lack of access to quality data that would drive better inventory planning.

(Reuters) -Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it. The retailer has missed the performance mark for many quarters, with sales flagging after a pandemic high, as it failed to ...

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.

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

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.

Incoming Target CEO Michael Fiddelke has been leading the retailer's acceleration effort to combat falling sales. He laid out plans to restore growth.