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Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.
Michael Fiddelke, Target's current chief operating officer, will replace CEO Brian Cornell on Feb. 1 as the retailer works on its turnaround strategy.
Rivals Target and Walmart have long been considered polar opposites. The biggest difference lately, though, is financial performance, underscored by the retailers' earnings reports this week.
Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.
In May, McMillon warned of tariff-driven price hikes for a wide range of goods that includes food, toys and electronics. Trump publicly criticized Walmart for saying it would hike prices, calling on the company to “eat the tariffs.”
Michael Fiddelke joined Target as an intern while studying for an MBA. He's since worked in merchandising, finance, operations, and human resources.
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.
It's close enough to the start of the 2025 NFL season that the fantasy football community has said plenty about this year's player pool.
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