Target, Brian Cornell and CEO
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Target, CEO and Retail
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On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.
In addition to announcing its Q2 2025 results, Target also revealed that it would be getting a new CEO. The company announced that its current CEO, Brian Cornell, will be stepping down from the role in February 2026. On February 1, its new CEO, Michael Fiddelke, will take the reins. Cornell has been Target’s CEO since 2014.
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Cornell replaced former CEO Gregg Steinhafel, who stepped down nearly five months after Target disclosed a huge data breach in which hackers stole millions of customers’ credit- and debit-card records. The theft badly damaged the chain’s reputation and profits.
Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.
The company's current COO, Fiddelke believes that "being unapologetically and unmistakably Target" will help get the Minneapolis-based retailer back on track.