Target new CEO Michael Fiddelke’s stunning rise from Intern to boss: Story in 10 points

Target (TGT) has tapped a homegrown talent Michael Fiddelke as its next CEO at one of the most pivotal moments in its 63-year history. Longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Fiddelke, a longtime company veteran, joined Target in 2003 as an intern and rose through the ranks to CFO and then COO.

Who is Michael Fiddelke, new Target CEO?

-Michael Fiddelke is Target’s Incoming CEO and Chief Operating Officer. He will assume the role of CEO and join the Board of Directors on Feb. 1, 2026.

-Target named longtime company veteran Michael Fiddelke as its CEO, replacing retail industry bigwig Brian Cornell, effective February 1, 2026. With the appointment of Fiddelke, Target is also back to picking names from within the company for the top job.


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-The leadership change comes at a tine when inflation and uncertainty from tariffs imposed by President Donald Trump have raised concerns over Target's discretionary products such as apparel and electronics.

-Michael Fiddelke joined the US retail giant in the year 2003 and rose through ranks to hold key positions in finance, merchandising, human resources and operations. At present, he is now the operations head and was finance chief from late 2019 to February 2024.

-He worked for three years at Deloitte Consulting LLP before joining Target and holds a degree in industrial engineering from the University of Iowa and an MBA in finance from the Kellogg School of Management.

-Michael Fiddelke has been appointed as new Target CEO as the US retail giant grapples with competition from Amazon and Walmart, as well as internal issues such as inventory management, merchandise missteps and retail crime.

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-As head of operations, he managed nearly 2,000 stores along with the company’s global supply chain, fulfillment services, and enterprise functions. Fiddelke also spearheaded a $2 billion efficiency initiative, transforming Target’s operations through technology, same-day delivery, and digital services.

-Fiddelke said Target needs to "to move faster, much faster", as he works to improve the quality of merchandise, value and style that Target offers, ensure a more consistent shopper experience and to embed more technology in all its businesses.

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-Target is shifting strategy by bringing back homegrown leadership after a period with an outside CEO. Fiddelke’s strategy focuses on speeding up decision-making, elevating the in-store experience, and reinforcing the value and style that originally set Target apart.

-In addition to his Target responsibilities, Michael serves on the board of Shipt, his profile on Target reads. Michael is known for his ability to modernize the business and accelerate growth, it adds.

(With Reuters inputs)