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

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.

Target Corp. named veteran Michael Fiddelke as its next chief executive officer, betting that the insider will revive the storied retailer struggling with weak sales.

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's chief operating officer, Michael Fiddelke, is set to succeed current CEO Brian Cornell in 2026. Cornell will transition to the role of executive chair of the board of directors. MINNEAPOLIS (FOX 9) - Target CEO Brian Cornell will be replaced by chief operating officer Michael Fiddelke in early 2026.

Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

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.

Target announced it was replacing CEO Brian Cornell with 20-year company veteran Michael Fiddelke, and shares plunged.

Explore Target Corporation's financial health and strategy: strong credit quality, CEO transition in 2026, and an attractive 4.3% dividend. Click for my TGT update.