Target is preparing for a major leadership change as Brian Cornell, its longtime CEO, steps down after more than a decade. Michael Fiddelke, the current Chief Operating Officer, will take over the role in February 2026. The decision comes at a time when the retail giant is facing slowing sales, growing competition, and consumer discontent over its recent strategic decisions.
A Leadership Shift in Challenging Times
Cornell, who became CEO in 2014, played a central role in revitalizing Target by remodeling stores and improving its online shopping experience. His tenure saw impressive growth during the late 2010s and pandemic years, but recent setbacks have overshadowed earlier wins. Sales have dropped for three consecutive quarters, and Target stock performance has placed the company among the weakest in the S&P 500.
Michael Fiddelke, a Target veteran who started as an intern two decades ago, now faces the task of restoring momentum. As CEO, he will need to balance consumer trust, manage supply chain pressures, and revamp merchandising strategies to keep pace with competitors like Walmart y Amazon.
Customer Backlash and Strategic Missteps
One of the biggest challenges Target faces is its strained relationship with customers. The company’s decision to scale back diversity, equity, and inclusion (DEI) programs alienated a segment of its core customer base, leading to protests and boycotts. Meanwhile, controversies surrounding merchandise decisions—such as removing certain Pride Month items—sparked further debate and weakened consumer loyalty.
Additionally, Target has struggled with tariff impacts and overstocking issues. Compared to Walmart, Target relies more heavily on imported goods, which makes it vulnerable to global trade shifts. This imbalance has forced the retailer to increase prices faster than some competitors, a move that has hurt sales in nonessential categories like home goods and apparel.
What Lies Ahead for Target
As Fiddelke steps into his new role, he inherits both challenges and opportunities. Analysts are divided on whether Target can quickly rebound or if deeper structural changes are required. Fiddelke has already acknowledged that the company is “not realizing its full potential” and emphasized the need for renewed innovation in merchandising, technology, and customer experience.
For Target to regain its competitive edge, it will need to re-establish customer trust, address pricing pressures, and enhance its online shopping experience through platforms like Target.com. The upcoming leadership transition is not just about continuity—it’s about repositioning Target to thrive in an increasingly complex retail landscape.
