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Target CEO Resigns Amid Sales Decline, COO Takes Over

8/20/2025

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Summary

Story summary

Target CEO Brian Cornell will resign on February 1, 2026, after 11 years, due to declining sales and diversity initiative backlash.
COO Michael Fiddelke, with 20 years at Target, will succeed him.
Target has experienced three consecutive quarters of declining sales, with shares down 10% in premarket trading.
Analysts are skeptical about the internal appointment's effectiveness in resolving ongoing challenges.

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Story summary

Target CEO Brian Cornell will resign on February 1, 2026, after 11 years, due to declining sales and diversity initiative backlash.
COO Michael Fiddelke, with 20 years at Target, will succeed him.
Target has experienced three consecutive quarters of declining sales, with shares down 10% in premarket trading.
Analysts are skeptical about the internal appointment's effectiveness in resolving ongoing challenges.