Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.

As CEO, Michael Fiddelke wants to 'reclaim' Target's merchandising authority originally appeared on Bring Me The News. Target Corp. is doubling down on merchandising as it looks to overcome recent challenges, including weak sales, market share losses ...

Michael Fiddelke joined Target as an intern while studying for an MBA. He's since worked in merchandising, finance, operations, and human resources.

Target faces headwinds, including sliding sales and a declining stock price. Incoming CEO Fiddelke said he aims to invest in technology and create more consistency for shoppers.

Target has been cutting costs to cope with tariffs, a sign of the tough conditions its next chief will have to navigate.