Michael Fiddelke Takes the Helm as Target's New CEO Amid Transition

Target Corporation Appoints Michael Fiddelke as New CEO

On August 20, 2025, Target Corporation made a significant announcement regarding its leadership team. Michael Fiddelke, the current Chief Operating Officer, has been elected as the new Chief Executive Officer (CEO) by the company's Board of Directors. This decision marks the beginning of a new chapter for Target, effective February 1, 2026. Brian Cornell, who has held the CEO position, will transition into the role of Executive Chair of the Board of Directors.

A Leader with Extensive Experience

Fiddelke boasts an impressive 20-year career at Target. He has played a crucial role in shaping the company’s core strengths and has held various leadership positions across merchandising, finance, operations, and human resources. His previous role as Chief Financial Officer has uniquely equipped him to oversee Target’s growth strategy and operational efficiencies.

During his tenure, Fiddelke has led initiatives that have enabled significant growth across the organization. This includes investments in building and scaling Target’s stores and supply chain, enhancing digital capabilities, and focusing on team development. Notably, he spearheaded efforts that yielded over $2 billion in efficiencies, demonstrating his commitment to optimizing Target’s operations.

Furthermore, Fiddelke is known for advocating the enhancement of pay and benefits for Target's team members, including the introduction of industry-leading wages and development programs such as 'Dream to Be'. These efforts underline his focus on creating a supportive work environment and advancing employee welfare.

A Vision for the Future

In his new role, Fiddelke will face the important task of steering Target back to growth and innovation. He has stressed the urgent need to refocus the company’s strategy while leveraging its strengths to create a seamless shopping experience for consumers. As he prepares to step into the CEO position, Fiddelke expressed his commitment to driving growth and realizing Target's full potential. ‘We have work to do to reach our full potential,’ he stated. ‘Now's the time to take full advantage of our strengths, embrace change with pace and purpose, and regain our momentum.’

Target has undergone a transformation under Cornell’s leadership, evolving into an omnichannel retailer with significant revenues and a highly developed digital presence. Cornell praised Fiddelke’s capacity for leading Target into its next phase, highlighting his passion for growth and his ability to inspire those around him. The transition will see both leaders working together until Fiddelke officially takes over.

Gratitude and Acknowledgement

Christine Leahy, the lead independent director of Target’s Board, acknowledged Cornell's leadership and the transformation of Target into a more competitive retail brand. Under his guidance, the company’s revenues grew by $34 billion in just over a decade, reflecting a successful strategy that expanded Target's omnichannel capabilities and established desirable private labels. This foundation will serve as a stepping stone for Fiddelke as he drives future initiatives.

Cornell expressed confidence in Fiddelke’s leadership, stating that he is uniquely qualified to navigate the complexities facing the retail sector today. Their collaborative transition period highlights the continuity and stability within Target during this change in leadership.

As the new CEO, Michael Fiddelke’s candidacy is a promising development in Target’s ongoing evolution. With a robust framework already in place and a clear vision moving forward, both the Board and employees are eager for the fresh initiatives and growth strategies that Fiddelke will introduce. With the evolving retail landscape, his leadership could redefine Target’s trajectory in a competitive market.

To keep updated on Target’s journey and initiatives, visit their corporate website and stay tuned for further announcements regarding organizational changes and future strategies.