Target just promoted an insider to CEO, tasking him with turning the company around amid decreasing sales and foot traffic.

Target announced on Wednesday that its Chief Operating Officer (COO), Michael Fiddelke, will assume the position of Chief Executive Officer (CEO) in February 2026. The company's current CEO, Brian Cornell, who has been in the role for 11 years, will retire that month.

"There is no one better suited to move Target forward than Michael Fiddelke," Cornell stated in a news release . "He brings a remarkable level of resolve in the face of complex challenges, a deep passion for growth, and a natural ability to inspire those around him to define what's next."

According to Business Insider , Target has reported drops in comparable sales, or sales from stores and di

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