MINNEAPOLIS, Minn. – Target's CEO Brian Cornell will be stepping down from his position after 11 years. His departure is set for February 1, 2025.

Cornell, who became CEO in 2014, has been credited with overseeing store remodels and enhancing Target's online business. His leadership saw significant changes in the company's focus and strategic direction.

However, the decision comes amid challenges such as declining sales. Target has been competing with retail giants Walmart and Amazon, among others.

Additionally, Target has recently faced backlash due to its retreat on diversity and inclusion policies, adding pressure to its leadership.

The company announced that Target's Chief Operating Officer will replace Cornell.

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