NEW YORK (AP) — 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 said Wednesday that Chief Operating Officer Michael Fiddelke, a 20-year company veteran, will succeed Cornell.

Cornell said Fiddelke’s appointment followed several years of board vetting of both internal and external candidates. Fiddelke has overhauled Target’s supply network and expanded the company’s stores and digital services while cutting costs. In May, the company announced that he would lead a new office focused on faster decision-making to help accelerate sales growth.

Fiddelke is taking over at a time when Target’s sales are in a funk, its store

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