Target CEO Brian Cornell is stepping down next year after serving in the role for 10 years. The move comes as Target faces declining sales and a controversial public image, with boycotts coming from both sides of the political aisle.  
The Minneapolis-based company is passing the baton to chief operating officer Michael Fiddelke, who was selected in a unanimous board of directors vote, per an <a href="https://corporate.target.com/press/release/2025/08/target-appoints-michael-fiddelke-as-chief-executive-officer">announcement</a> made on Wednesday. Fiddelke, a 20-year veteran of the company, will take over beginning February 1, 2026.
“It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company’s strategy, and reestablish Target’s position as a leader in the highly dynamic and fast-moving retail environment,” Christine Leahy, lead independent director of Target’s Board of Directors, said.
Cornell had previously committed in 2022 to serve for three more years as CEO. He will now be the executive chair of the company&#8217;s board of directors. 
Sales were down 1% in the latest quarter compared to one year ago, the New York Post <a href="https://nypost.com/2025/08/20/business/target-ceo-brian-cornell-steps-down-after-10-years-as-retailer-fights-to-reverse-sliding-sales/">noted</a>, with a reported $25.2 billion total. This trend was blamed on a reduction in total merchandise offered. Profit for the quarter was $1.3 billion, which is a reduction of 19% compared to last year, according to the Post. 
The company blamed some of its financial woes on the economic uncertainties surrounding Trump’s tariff plan.
Earlier this year, Target announced it was rolling back its diversity, equity and inclusion (DEI) initiatives, following suit with other companies and retailers amid the changing political landscape. This pivot served to anger liberal activist groups, who called for <a href="https://www.theguardian.com/culture/2025/jul/20/black-americans-boycot-target-amazon-dei">boycotts</a>. RetailBrew <a href="https://www.retailbrew.com/stories/2025/08/18/target-s-revenues-track-closely-to-foot-traffic-q2-foot-traffic-is-down-3-1">reported</a> that these boycotts appeared to be working as foot traffic was down 3.1% in Q2.
In May, Cornell blamed the lackluster first-quarter sales in part on the company changes related to DEI. 
He <a href="https://www.cnbc.com/2025/05/21/target-tgt-q1-2025-earnings.html">said</a> the numbers declined due to “ongoing pressure in our discretionary business, plus five consecutive months of declining consumer confidence, tariff uncertainty, and the reaction to the updates we shared on belonging in January.” 
Despite making these changes, some conservatives are still boycotting Target for its past pride campaigns <a href="https://www.dailywire.com/news/target-to-offer-pride-merchandise-in-fewer-stores-after-backlash-against-tuck-friendly-swimsuit-sale-last-year">aimed at children</a>, saying the retailer’s policy changes were too little, too late. 

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Target CEO Steps Down As Sales Plummet And Boycotts From Both Sides Continue