The retailer’s board believes a company veteran can promote much needed change. Now, Michael Fiddelke has to prove himself to others.

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

Results over the last few years have fallen short of our expectations and our potential,” current CEO Brian Cornell says.

Good morning. There’s more executive turnover in the Fortune 500. Target CEO Brian Cornell is stepping down, and Michael Fiddelke, chief operating officer (COO), will become chief executive on Feb. 1, 2026. Cornell has led Target for 11 years.

The Minneapolis-based retailer certainly has challenges now, but looking back, it’s clear Target was in a make-or-break moment when Brian Cornell took charge 11 years ago.

US retail giant Target has appointed a new chief executive as it struggles to reverse a decline in sales and its share price. The leadership change comes as rising prices and uncertainty over the knock-on effects of US tariffs have raised concerns over the impact on consumer spending,