Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.

Target has selected a lifelong employee as its next CEO in a bid to revive sales as shoppers turn to the retail giant’s competitors. After more than two decades at the company, joining first as a college intern in 2003, chief operating officer Michael Fiddelke is set for a tenth promotion on February 1, 2026.

The retailer is examining its Chicago-area stores to understand how each location is best suited to fulfill online orders, and expects to apply learnings to 40 new markets.

Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

The Minneapolis-based retailer certainly has challenges now, but looking back, it’s clear Target was in a make-or-break moment when Brian Cornell took charge 11 years ago.

El director general de Target, Brian Cornell, quien ayudó a revitalizar la compañía pero ha tenido dificultades para revertir las