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.

Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.

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 ...

Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

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,