Target names internal successor as CEO

Target names internal candidate Mr Fiddelke as its new chief executive to push a faster turnaround after weak sales.

Target appoints Fiddelke as new CEO to revive sales

Target has named Mr Fiddelke as its new chief executive, returning to a tradition of promoting from within. He replaces Mr Cornell, the first outsider to lead the retailer. The move comes as Target struggles with weaker sales and growing competition from Amazon and Walmart. Shares fell sharply before the announcement and pared losses after the news. Fiddelke said the company has work to do and must move faster, promising improvements in product quality and greater use of technology.

Analysts reacted with caution, noting that an insider promotion may not lift investor sentiment if it does not address entrenched groupthink. Some suggested an external hire could have signaled a bolder turnaround, while others warned the change could fall short of the urgency needed to win back shoppers amid tariff pressure and a recent DEI policy backlash.

Choosing an insider signals continuity, but it risks leaving behind the fresh energy investors often seek during a tough competitive period. If the pace of change stays slow, targets may struggle to regain momentum even as costs and tariffs press on margins. The handling of DEI issues now becomes as important as price and assortment, because culture can determine how quickly a retailer can adapt to changing shopping habits.

Highlights

The next few quarters will reveal whether leadership depth translates into a meaningful lift in growth.