Michael Fiddelke news: Target has named Michael Fiddelke as its next CEO as the company faces competition from Walmart. Fiddelke, currently COO, will lead the effort to turn around the iconic retailer which has been struggling with weak sales and underperforming stores.
The company announced on Wednesday that its board voted unanimously to make Fiddelke CEO starting February 2026. He will replace Brian Cornell who has been CEO since 2014 and will become executive chair. Target shares fell as much as 11% in early trading as investors were disappointed an outsider wasn’t chosen.
Who is Michael Fiddelke?
Michael Fiddelke started at Target as an intern in 2003 and has held roles in finance, merchandising, HR and operations. As COO and previously CFO, he oversaw investments in stores, supply chain, digital and teams that drove the company’s growth over the years.
Before Target, Fiddelke worked at Deloitte. He has an MBA from Northwestern University’s Kellogg School of Management and a Bachelor of Science in Industrial Engineering from the University of Iowa.
Fiddelke outlines Target’s comeback plan
As CEO, Fiddelke has three priorities: reclaiming merchandising authority, improving the shopping experience with stocked shelves and clean stores and investing in tech across stores and supply networks.
“When we’re leading with swagger in our merchandising authority, when we have swagger in our marketing and we’re setting the trend for retail, those are some of the moments I think Target has been at its highest in my 20 years,” he said.
Target has around 1,980 stores in the US and has been boycotted by consumers since late January after scaling back corporate diversity, equity and inclusion initiatives, like Walmart.