The CEO of Target will be leaving the job after 11 years and months of slowing sales as the company reversed course on DEI initiatives and the impact of tariffs.
Some expected an outside hire would replace Brian Cornell, but the company said that Chief Operating Officer Michael Fiddelke will take over on Feb. 1, CNN reported. Fiddelke has been with Target for 20 years, The Associated Press reported.
Fiddelke started as an intern at the company, CNN reported, but has expanded the number of stores and added digital services while cutting costs, according to the AP.
Cornell’s departure comes as the company has been hit by protests after ending some DEI programs, which had been central to its business. A daughter of one of the company’s co-founders went as far as to say it was “a betrayal,” CNN reported. The company said the move hurt sales.
Tariffs and spending slowdowns also hurt the company’s bottom line, especially since more than half of the store’s merchandise is considered discretionary, with half of its stock imported.
Fiddelke said he has three priorities when he takes over: reclaiming the company’s merchandising authority, improving the shopping experience with stocked shelves and clean stores and investing in technology for not only its stores but also its supply network, the AP reported.
Target has about 1,980 stores in the U.S.
© 2025 Cox Media Group
Sign Up
