Michael Fiddelke takes over
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Target (TGT) shares fell after Q2 results were reported. Analysts have mixed views, with some lowering price target while others maintaining ratings.
The retailer’s board believes a company veteran can promote much needed change. Now, Michael Fiddelke has to prove himself to others.
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.
Good morning. There’s more executive turnover in the Fortune 500. Target CEO Brian Cornell is stepping down, and Michael Fiddelke, chief operating officer (COO), will become chief executive on Feb. 1, 2026. Cornell has led Target for 11 years.
Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back