Michael Fiddelke, Target's current chief operating officer, will succeed Brian Cornell as chief executive officer, the company said in a release. Cornell, who has served as the company's CEO since 2014, will step down and Fiddelke will take over the role on Feb. 1, 2026.

(Reuters) -Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it. The retailer has missed the performance mark for many quarters, with sales flagging after a pandemic high, as it failed to ...

Michael Fiddelke, born in Iowa, will be the new CEO at Target Corp. He's one of a long line of Iowans who've risen to the top of the business world

A redoubled focus on style “may not be enough in a retail landscape where convenience, selection and speed have rapidly evolved and redefined the competitive landscape,” according to one analyst.

Incoming Target CEO Michael Fiddelke has been leading the retailer's acceleration effort to combat falling sales. He laid out plans to restore growth.

Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.

Target (TGT) stock is sinking after the company announced that COO Michael Fiddelke will succeed current CEO Brian Cornell. Mizuho Americas director and senior analyst David Bellinger and Roth Capital Partners senior research analyst Bill Kirk join Market Catalysts to discuss what investors want to see out of Target and to explain why the market is worried the incoming CEO isn't up to the challenge.

Chief Operating Officer Michael Fiddelke, who will take the top job in February, said the retailer needs to revive its focus on stylish merchandise.