Target CEO Brian Cornell to Step Down in 2026, Michael Fiddelke Named Successor

 Target CEO Brian Cornell to Step Down, Michael Fiddelke Appointed as Successor

Target Corporation, one of the biggest retail giants in the United States, has announced a major leadership change. Long-time CEO Brian Cornell will step down from his role on February 1, 2026, and will be succeeded by Michael Fiddelke, the company’s current Chief Operating Officer (COO).

Brian Cornell’s Leadership Journey at Target

Brian Cornell took over as CEO in 2014 and led Target for more than a decade. Under his leadership:

Target expanded both in-store and online retail operations.

The company navigated through the COVID-19 pandemic with strong supply chain and delivery strategies.

Target strengthened its reputation as a value-driven and customer-focused brand.

After stepping down, Cornell will transition into the role of Executive Chair of the Board, continuing to provide strategic guidance.

Who is Michael Fiddelke?

Michael Fiddelke is a 20-year veteran at Target with experience in finance, operations, and strategy.

He currently serves as the Chief Operating Officer (COO).

Known for his operational expertise and customer-first approach.

The board believes his leadership will help Target innovate and compete in a rapidly changing retail market.

Investor and Market Reaction

The announcement caused Target’s stock to fall 6%–11%. Investors expressed concerns about promoting an internal candidate instead of hiring an external leader.

However, company officials are confident that Fiddelke’s deep knowledge of Target’s operations will provide stability and long-term growth.

Why This Leadership Change Matters

This is the first major CEO transition at Target in 11 years. The change could have a lasting impact on:

Customers – New strategies for shopping experience and digital services.

Employees – Stronger focus on innovation and workplace culture.

Investors – Fresh leadership at a crucial time for U.S. retail.

Conclusion

Target’s CEO transition from Brian Cornell to Michael Fiddelke marks a historic moment for the company. While Cornell leaves behind a successful legacy, Fiddelke faces the challenge of reviving growth and ensuring Target’s strong position in the retail industry.

The next few years will be crucial in determining whether Target can meet customer expectations, boost investor confidence,

 and continue its journey as one of America’s leading retailers.