Target Corporation announced today that its Board of Directors has unanimously elected Michael Fiddelke, the current COO, to succeed Brian Cornell as CEO.
Fiddelke steps into the role after a 20-year career at Target, where he began as an intern and eventually served as Chief Operating Officer and Chief Financial Officer.
Cornell, who has been Target’s CEO since August 2014, will assume the role of executive chair for an unspecified period.
Christine Leahy, lead independent director of Target’s Board of Directors told investors, “Over the last several years, the Board has been executing a deliberate and thoughtful CEO succession process, including an extensive external search and assessment of many strong candidates. It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company’s strategy, and reestablish Target’s position as a leader in the highly dynamic and fast-moving retail environment. Michael’s tenure gives him unmatched enterprise insight and a base of strong team trust. But what sets him apart is how he combines those strengths with a ‘fresh eyes’ mindset, challenging the status quo to evolve how the business operates, differentiates and delivers long-term value.”
Departing CEO, Brian Cornell, said, “There is no one better suited to move Target forward than Michael Fiddelke. He brings a remarkable level of resolve in the face of complex challenges, a deep passion for growth, and a natural ability to inspire those around him to define what’s next. Those leadership attributes will be critical in shaping the next generation of Target.”
Fiddelke stated, “It is truly an honor to be named Target’s next chief executive officer. After more than 20 years at Target, I know the power of our brand, the talent of our team, and the special place we hold in retail. My history with the company also deepens my sense of responsibility for where Target goes next, and I step into the role with an urgent commitment to drive growth and deliver better results.”
Fiddelke expressed his eagerness to refocus Target’s strategy and build upon the assets and capabilities that have made Target a beloved destination for exceptional products and a unique shopping experience. “And to be clear, we have work to do to reach our full potential. Now’s the time to take full advantage of our strengths, embrace change with pace and purpose, and regain our momentum.”
Cornell and Fiddelke will work together throughout the transition, and on Feb. 1, 2026.
By CEO NA Editorial Staff
