Inside Target's Undergoing Leadership Change

Source Credit : Portfolio Prints

Target Corporation, the U.S. retail giant, has unveiled a significant leadership change: long-standing CEO Brian Cornell will step down on February 1, 2026, and current Chief Operating Officer (COO) Michael Fiddelke will assume the role of CEO, also joining the Board of Directors.

A New Chapter After 11 Years

Brian Cornell, who led Target for over a decade, transforming it into a $100+ billion omnichannel powerhouse, will transition to the position of Executive Chair of the Board. His tenure was marked by innovations like store hubs for order fulfillment, same-day services such as Drive Up, and the elevation of Target’s private-label brands.

The Insider Successor: Michael Fiddelke

Michael Fiddelke brings more than 20 years of institutional knowledge, having started as an intern and held leadership posts in finance, merchandising, operations, and HR. After serving as CFO from late 2019 to early 2024, he became COO—overseeing nearly 2,000 stores, delivery infrastructure, supply chain, digital services, and launch of the "Enterprise Acceleration Office," geared toward simplifying operations and enabling faster decision-making.

The Road Ahead: Strategy

Fiddelke has outlined three urgent priorities:

• Restore Target’s merchandising leadership by reasserting a clear, stylish identity.


• Enhance customer experience, with consistent stocking, clean stores, and improved service.


• Accelerate use of technology to drive speed, efficiency, and operational agility.

Analysts remain cautious. Many had hoped for an external hire to bring fresh perspective; Fiddelke’s insider appointment prompted a dip in Target’s share price and raised concerns that the retailer may continue internal patterns without bold changes. Target is seen as struggling with an identity crisis—unclear positioning between discount retailer, style hub, or direct competitor to giants like Walmart and Amazon.

Still, some analysts see positives in inventory improvements and operational discipline under Fiddelke’s leadership.

Strategic Shifts

Target finds itself at a crossroads. The retailer has grappled with sliding sales, inventory inefficiencies, consumer backlash following its rollback of DEI (Diversity, Equity, and Inclusion) initiatives, and intensifying competition from rivals such as Walmart, Amazon, and discount clubs like Costco.

The DEI controversy triggered nationwide boycotts, starting in early 2025, which significantly damaged public perception and hurt financial performance.

What’s Next for Target?

As Fiddelke prepares to take the helm in February 2026, his performance will be closely scrutinized. Investors and analysts will be watching for tangible improvements in:

• Operational efficiency


• Inventory management and product desirability


• Store experience consistency


• Strategic use of technology and innovation

Rebuilding trust—especially on issues like DEI—and regaining market momentum will be essential. Whether Fiddelke’s deep company knowledge will enable a more agile, defined comeback remains to be seen.

This leadership shift marks a defining moment for Target—a chance to reset and reassert itself amid a rapidly evolving retail landscape.