Michael Fiddelke, Target's current chief operating officer, will succeed Brian Cornell as chief executive officer, the company said in a release. Cornell, who has served as the company's CEO since 2014, will step down and Fiddelke will take over the role on Feb. 1, 2026.

Target CEO Brian Cornell, who helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic, plans to step down Feb. 1.

After more than a decade at the helm, Target CEO Brian Cornell is stepping down, leaving a big gap to fill. The company's board has chosen a familiar face to lead the next chapter: Michael Fiddelke. Fiddelke's promotion to Target CEO is a story of internal ...

Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.

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.

Target on Wednesday named a new chief executive, Michael Fiddelke, the company’s chief operating officer and a 20-year company veteran, who said improving the retail giant’s sputtering finances was “urgent” as he prepared to step into the top job.

Target reported yet another quarter of weak financial results, with comparable sales down 1.9%, and the cheap-chic retailer reaffirmed its expectation that sales will decline by a low single-digit percentage this year,