17161: Targeting Target’s Targeted Troubles.

 

Adweek reported the CEO of Target is stepping down after 10+ years, a decision presumably tied to sales sliding down for 10+ quarters.

 

While Adweek mentions it, there really aren’t firm opinions regarding the true impact of boycotts on profits.

 

Hell, even John Caldwell isn’t chiming in on the topic. Yet.

 

Target CEO Brian Cornell Steps Down Amid Continued Sales Decline 

 

Michael Fiddelke, currently chief operating officer, will take over in February 2026.

 

By Kathryn Lundstrom

 

Target CEO Brian Cornell is stepping down after 10 years.

 

The retailer has selected chief operating officer Michael Fiddelke as Cornell’s replacement, announced during Target’s Q2 earnings call. Fiddelke will take the reins on Feb. 1, 2026, and Cornell will move into the role of executive chairman.

 

The change comes amid continued sales declines—this marks its 11th quarter reporting flat or falling sales—and repeated consumer boycotts over the past two years.

 

Target has faced backlash from both ends of the political spectrum, starting when anti-LGBTQ activists criticized its 2023 Pride collection, leading the retailer to scale back Pride-related marketing and merchandise, and more recently when it dropped its supplier and workforce diversity programs.

 

“Our performance over the last few years has not been acceptable,” Fiddelke told investors.

 

Fiddelke has spent more than 20 years at the company, starting as a finance intern in 2003, according to LinkedIn. Prior to his role as COO, he was chief financial officer from 2019-2024.

 

During the earnings call, Fiddelke outlined a vision for his tenure that focuses on style and design, customer experience, and technological investment.

 

“We need to move faster, much faster,” he said. “Over the past few months, we’ve been urgently adjusting our approach to assortment planning amidst a rapidly evolving external tariff and consumer landscape.

 

“This type of speed and agility is exactly how we need to lead across all aspects of our business, serving as a textbook model for our new enterprise acceleration office.”