Brian Cornell is stepping down as CEO of Target after over a decade as the company faces declining sales and struggles with competition.
According to CNN, Target is not only facing “slumping” sales but supposedly dealing with backlash from its walkaway from Diversity, Equity, and Inclusion (DEI) initiatives. This apparently factors into Cornell’s move, although he is expected to stay on as executive chairman.
His replacement, Michael Fiddelke, who works as the company’s chief operating officer, will replace Cornell as CEO on February 1, 2026.
Per CNN:
But Target has been in a deep slump for years, a result largely of its own strategic missteps…
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