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.

Michael Fiddelke joined Target as an intern while studying for an MBA. He's since worked in merchandising, finance, operations, and human resources.

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

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.

Incoming Target CEO Michael Fiddelke has been leading the retailer's acceleration effort to combat falling sales. He laid out plans to restore growth.

The retailer's declining sales can be partially attributed to competitors like Walmart and Amazon Target CEO Brian Cornell is stepping down. After 11 years in the role, Cornell will leave his post at the beginning of next year,

Wednesday, after the discount retailer said it was replacing for Chief Executive Brian Cornell, who has been in charge for the past 11 years, with current Chief Operating Officer Michael Fiddelke, effective Feb.