MINNEAPOLIS — Target CEO Brian Cornell, who helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic, plans to step down Feb. 1.

Minneapolis-based Target Corp. said Wednesday that Chief Operating Officer Michael Fiddelke, a 20-year company veteran, will succeed Cornell. Cornell will transition to be executive chair of the board.

Cornell, 66, took the helm at Target in August 2014. In September 2022, the board extended his contract for three more years and eliminated a policy requiring its chief executives to retire at age 65.

Cornell said the appointment followed several years of board vetting of both internal and external candidates. Fiddelke has overhauled Target’s supply network and expanded the comp

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