Target CEO to Step Down as Shoppers Turn Away

 

Target CEO to Step Down as Shoppers Turn Away

Reported by Naijajistreal96

One of America’s biggest retail chains, Target, is preparing for a major leadership shake-up after years of slowing sales and customer dissatisfaction. The company confirmed that its long-serving chief executive, Brian Cornell, will officially step down on February 1, 2026. Cornell, who has been at the helm since 2014, will remain with the company as the new executive chairman.

Replacing him is Michael Fiddelke, Target’s current Chief Operating Officer. Fiddelke has spent nearly two decades at the company and is now expected to take charge of guiding Target through one of its toughest times in years.

Why the Change?

The move comes as Target struggles with falling sales and growing pressure from customers. Sales have declined in eight of the last ten quarters, with a 21% drop in net income recorded most recently. Beyond the numbers, the retailer has faced backlash and boycotts after rolling back its diversity and inclusion programs, leaving many longtime shoppers disappointed.

What’s Next for Target?

Fiddelke is stepping into the role with a clear mandate—win back customers and rebuild Target’s once strong reputation. His early plans focus on:

• Merchandise refresh – bringing back exciting and trendy products through a project nicknamed “Fun 101.”
• Better shopping experience – ensuring stores are cleaner, better stocked, and more welcoming.
• Tech upgrades – strengthening digital shopping, supply chain systems, and customer-facing apps.

Investors React

News of the leadership change sent Target’s shares down by over 8% in early trading. Some market analysts believe promoting an insider could mean “more of the same,” while others argue Fiddelke’s deep knowledge of the company may help speed up a turnaround.

As Target heads into 2026, all eyes will be on whether the new leadership can restore shopper confidence and bring the retail giant back to growth.

— Naijajistreal96 Report