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

Shares of Nasdaq listed Target Corporation plunged 11% in opening trade hitting a low of $94.15 after the company said that its board has unanimously elected Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as Chief Executive Officer and become a member of its Board of Directors.

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.

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 announced in a press release Wednesday that its board of directors unanimously appointed COO Michael Fiddelke to be the next chief executive officer, while current CEO Cornell will move into the role of executive chair of the board of directors.

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.

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