Target is navigating a significant leadership transition as Brian Cornell steps down as CEO after 11 years, reflecting the company’s slump in sales and retreat on diversity initiatives. According to CNN , Cornell will be succeeded by Michael Fiddelke, Target's chief operating officer, effective February 1, 2026. Cornell, who CNN says once revitalized Target with strategic store remodels and enhanced online presence, will remain as executive chairman.

Target has faced declining sales for three consecutive quarters, the company announced Wednesday, attributed largely to ineffective strategy and competition from retail giants like Walmart, Costco, and Amazon. Following the announcement, CNN reported that the company’s stock is considered among the S&P 500’s worst this year.

While Cornel

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