Activists and customers on the right attacked Target on social media for its LGBTQ-themed merchandise during Pride Month. Target employees faced threats. Misinformation spread on social media that the swimsuits designed for transgender people were marketed to children, which they were not. The company removed them from stores.

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 is counting on a company veteran to revive its magic as it struggles to compete with rivals like Walmart. The Minneapolis-based retailer said Wednesday that Chief Operating Officer Michael Fiddelke,

Target CEO Brian Cornell is stepping down after 11 years at the retailer, as the company faces slumping sales and backlash to its retreat on DEI.

Shares in Target sank after the retailer reported its 11th straight quarter of flat or falling sales, and said Chief Operating Officer Michael Fiddelke will become its next chief executive. Target stock dropped more than 10% in premarket trading,

Target CEO Brian Cornell to step down, COO announced as replacement originally appeared on Bring Me The News. Target CEO Brian Cornell will step down from his role in February, with longtime employee Michael Fiddelke tapped to replace him.

New favorite business trivia: What do Nike, GM — and now Target — all have in common? Each of these companies now has a CEO who began years ago as an intern, and then worked their way up to the top job over the decades: I’m sure there are others ...

Target's appointment of company veteran Michael Fiddelke as CEO did little to enthuse Wall Street analysts as they were pinning their hopes on an outsider to put the struggling retailer back on track.

Target reported stronger-than-expected second-quarter earnings Wednesday, but that may not matter much to investors, who finally know who the retailer’s next chief executive is going to be. Target announced that longtime veteran and current Chief Operating Officer Michael Fiddelke will succeed CEO Brian Cornell on Feb.