US EditionTarget names longtime insider Michael Fiddelke its next CEO as retailer tries to break sales and stock slump
Michael Fiddelke, a 20-year Target veteran, will focus on merchandise quality, shopper experience, and technology to reverse a 1.9% sales decline and regain market position, analysts say.
- Target Corp. has confirmed Michael Fiddelke as its new CEO, effective February 1, succeeding Brian Cornell who will transition to Executive Chair of the board.
- Fiddelke, currently the Chief Operating Officer, has a 20-year history with the company and plans to restore Target's popularity.
- He acknowledged challenges for Target, mentioning the need for further improvements in on-shelf availability during an analyst call.
- Cornell stated that Fiddelke's appointment followed years of vetting by the board of both internal and external candidates.
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129 Articles
Target CEO Brian Cornell to Step Down. Here's What Investors Need to Know. @themotleyfool #stocks $TGT $PEP
Key PointsCornell's departure is not a surprise, with his contract nearly up and the company's performance down.His successor, Michael Fiddelke, is a company insider; analysts were hoping for big changes.10 stocks we like better than Target › The biggest news from retailer Target's (NYSE: TGT) second-quarter earnings report, which arrived on Wednesday, wasn't the 21% plunge in profits (although that was bad). It's what the company is doing about…
Target CEO Who Steered Struggling Retail Giant Into Wokeness to Step Down: Company 'Lost Its Grip'
Target is seeing the end of an era that many customers would probably like to forget. After 11 years leading the embattled retail chain, CEO Brian Cornell is stepping down, […] The post Target CEO Who Steered Struggling Retail Giant Into Wokeness to Step Down: Company 'Lost Its Grip' appeared first on The Western Journal.
Target CEO to Step Down Amid Company Struggles - Real News Now
Target is undergoing a leadership shake-up as it struggles to reverse sliding sales and regain momentum. On Wednesday, the Minneapolis-based retailer announced that Chief Operating Officer Michael Fiddelke will become the company’s next CEO, succeeding Brian Cornell, who has led the brand for more than a decade. The board unanimously elected Fiddelke, 49, to take over effective February 1. The move comes as Cornell, 66, wraps up the three-year e…
Target boss out after 11 years — proof that missing DEI is bad for business
Target is replacing its longtime CEO Brian Cornell due to a slump in sales that was contributed to in no small part by the company’s decision to retreat on its DEI policies. Cornell’s reign at the top of the retail store began in 2014, and CNN gives him credit for revolutionizing the company’s e-commerce branch, which enabled it to be competitive against Amazon. During the turn of the decade, when a lot of companies decided to acknowledge their …
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