Target Names Next CEO
Target’s board of directors has unanimously elected Michael Fiddelke, chief operating officer, as the company’s next CEO. He will succeed Brian Cornell, who will transition to executive chair of the board. Both appointments take effect Feb. 1, 2026.
Fiddelke has spent more than two decades at Target, starting as an intern before rising to leadership roles spanning merchandising, finance, operations and human resources. As COO, and previously chief financial officer, he has overseen investments that expanded the retailer’s stores, supply chain, digital capabilities and team. He also spearheaded efforts to generate $2 billion in enterprise efficiencies, according to an Aug. 20 media release.
Most recently, Fiddelke launched and has been leading Target’s Enterprise Acceleration Office, designed to streamline operations, scale technology and improve performance across the business.
“[Fiddelke] 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,” Christine Leahy, lead independent director of Target’s board, said in the release.
Cornell, who has served as CEO since 2014, oversaw Target’s transformation into an omnichannel retailer, advancing concepts such as stores-as-hubs, building same-day services such as Drive Up, scaling digital performance and elevating Target’s private-label portfolio. During his tenure, revenues grew by $34 billion.
Cornell endorsed Fiddelke’s succession, noting, “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.”
Target said Cornell and Fiddelke will work closely during the transition, with a new COO to be named at a later date.
