If you’ve walked into a Target recently, you’ve probably noticed the vibe is a bit different. Maybe it’s the new store layouts or those oddly specific deals on the app. But behind the scenes, there is a much bigger change happening. Honestly, if you're asking who is the ceo of Target, the answer is currently a tale of two leaders.
We are in the middle of a massive handoff. For the last decade, Brian Cornell has been the face of the Bullseye. He’s the guy who navigated the pandemic and turned Target into a $100 billion juggernaut. But as of 2026, he’s officially passing the torch.
The Big Swap: From Cornell to Fiddelke
Here is the deal. On February 1, 2026, Michael Fiddelke officially stepped into the role of CEO.
It wasn't a sudden firing or a corporate scandal. It was a slow, deliberate transition that the board has been planning for years. Brian Cornell isn't just disappearing into the sunset, though. He’s moving into a role called Executive Chair of the Board. Basically, he’ll still be around to give advice and oversee the big-picture strategy, but Fiddelke is the one calling the daily shots now.
You might be wondering who Michael Fiddelke actually is. He’s not some hotshot outsider brought in to blow things up.
He’s a Target lifer.
Fiddelke started at the company as an intern over 20 years ago. He worked his way up through finance, merchandising, and human resources. Before getting the top job, he was the Chief Operating Officer (COO) and, before that, the Chief Financial Officer (CFO).
He knows where the bodies are buried. He knows why that one specific supply chain route in the Midwest always gets clogged in November. That kind of institutional knowledge is exactly why the board picked him, even though some investors were hoping for a "fresh eyes" outsider to shake things up.
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Who is the CEO of Target and why does the change matter right now?
Retail is kind of a mess right now. You’ve got inflation making everyone cranky, and Amazon is always looming like a final boss in a video game. Target has been struggling a bit lately with "comparable sales"—that's corporate speak for whether people are spending more this year than they did last year.
The numbers haven't been great.
When the news broke in late 2025 that Fiddelke would be taking over, the stock actually took a bit of a dip. Analysts were worried that a 20-year veteran might just give us more of the same. But Fiddelke has been pretty vocal about his "Enterprise Acceleration Office." It sounds like a boring department name, but its goal is actually to cut through the red tape that makes big companies slow.
The Cornell Legacy
Brian Cornell’s run was legendary, mostly because he made a "counterintuitive" bet back in 2017. Everyone told him to close stores and go 100% digital to beat Amazon. Instead, he spent $7 billion to make the stores better. He turned them into "hubs" where you could pick up your online order at the curb in ten minutes.
It worked. Target's revenue jumped by $34 billion during his tenure.
But the last couple of years have been tougher. Inventory issues and shifting consumer tastes meant Target wasn't always hitting the mark with their clothes and home decor like they used to. That’s the "debris" that Fiddelke has to clean up.
What Fiddelke is changing immediately
He isn't just sitting in Cornell’s old chair and keeping it warm. He has already laid out three huge priorities for the "new" Target:
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- Merchandising Authority: Making Target "cool" again. They want to reclaim that "Tar-jay" status where you go in for milk and leave with a $200 designer-collab lamp.
- The "Elevated" Experience: Making sure the stores don't feel cluttered or understaffed.
- Tech Overhaul: Using AI and better data to make sure that when you want a specific pair of swim trunks, they are actually in stock at your local store.
Honestly, the "merchandising authority" part is the most interesting. Target used to be the king of cheap chic. Lately, critics say they’ve played it too safe. Fiddelke is under a lot of pressure to bring back that "design swagger."
Comparison: The Two Leaders at a Glance
Brian Cornell
The "Transformation" Leader. He came from the outside (PepsiCo and Sam's Club) in 2014. He was the first outsider to ever run Target. He focused on "Stores as Hubs" and massive capital investments. He’s stayng on as Executive Chair to ensure stability during the 2026 transition.
Michael Fiddelke
The "Acceleration" Leader. A 20-year internal veteran who started as an intern in 2003. He’s an operations and finance guy. His focus is on speed, efficiency, and fixing the supply chain issues that have plagued the retailer post-COVID.
Why this leadership shift affects your shopping trip
You might think CEO talk is just for Wall Street, but it actually changes how you shop.
When a CFO-type like Fiddelke takes over, you usually see a big push for efficiency. That could mean fewer "out of stock" messages on the app. It could also mean a more streamlined checkout process. He’s obsessed with removing "complexity." If a process at Target is annoying for an employee, Fiddelke wants to automate it or kill it.
There's also the Ulta factor. In early 2026, news surfaced that the partnership between Target and Ulta Beauty might be winding down or changing significantly. That was a huge draw for shoppers. How Fiddelke handles these "shop-in-shop" partnerships will define if Target stays a "destination" or just becomes another place to buy detergent.
The Skeptic's View
Not everyone is throwing a parade for the new boss.
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Some market experts, like Neil Saunders from GlobalData, have pointed out that Target can be a bit "inward-looking." By promoting a guy who has been there for two decades, they might be doubling down on old habits. If Fiddelke was the "architect of the status quo" as the COO, can he really be the "disruptor" as the CEO?
It’s a fair question.
Fiddelke’s response has been to point to his "fresh eyes" mindset. He’s basically saying, "I know how we do things, which means I know exactly what needs to be broken."
Actionable Insights for the Target Obsessed
If you’re a frequent guest or an investor, here is how to navigate the Fiddelke era:
Watch the "Owned Brands"
Target’s private labels (like Good & Gather or All in Motion) are worth $30 billion. Fiddelke has hinted at a massive refresh here. If you see your favorite brand changing its packaging or quality, that’s his influence.
Check the "Drive Up" Experience
This was Cornell’s baby, but Fiddelke wants to make it faster. If your wait times start dropping or they add more "add-on" features (like getting a Starbucks coffee with your pickup), that's the Enterprise Acceleration Office at work.
Follow the Stock (TGT)
If you're into the business side, keep an eye on the quarterly "comparable sales" reports through 2026. If Fiddelke can't turn those negative numbers into positive ones by the holiday season, the pressure from the board will get intense.
The "Style" Test
Walk through the clothing section. If it feels trendy and exciting again, Fiddelke is succeeding at "merchandising authority." If it feels like a clearance rack at a generic department store, the "inward-looking" critics might be right.
The transition from Brian Cornell to Michael Fiddelke is more than just a name change on a door. It is Target’s attempt to prove that a legacy retailer can move as fast as a tech company. Fiddelke has the keys to the Bullseye now. Whether he hits the center of the target or misses entirely depends on how quickly he can turn his "efficiency" goals into a better experience for the millions of people who walk through those red sliding doors every day.