Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.

Target announced Wednesday that its CEO, Brian Cornell, will be stepping down from his role early next year. The news comes months after the retail giant became the target of a metro Atlanta-based boycott stemming from the chain’s retreat from some of its diversity,

California Democrats prepare to pass their redistricting plan after Texas House approves new maps If Your Partner Is Asking You to Do These 10 Things, It’s Time to Leave

Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and inclusion policies.

Brian Cornell is stepping down from his role as CEO of Target as the beleaguered retailer struggles with declining sales, new costs from tariffs, and backlash over its reversal on DEI policies -- a move that is being cheered by those on the left who have criticized the company.

Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.

Target promoted insider Michael Fiddelke on Wednesday as its new CEO to turn around the struggling retailer after a series of challenges over recent years that caused its shares to vastly lag those of its peers.