Target CEO Brian Cornell Announces His Resignation, Who Will Replace Him?

Liputan6.com, Jakarta Brian Cornell, who has led Target Corporation as Chief Executive Officer (CEO) for 11 years, will officially step down from his position.

The resignation is scheduled to take effect on February 1, 2026, marking the end of a significant leadership era for one of the largest retail giants in the United States.

The decision was announced amidst business challenges facing the company, including declining sales and public backlash against internal policies.

Cornell's departure is part of a carefully considered succession planning process by Target's board of directors.

The company has appointed Michael Fiddelke, Target's current Chief Operating Officer (COO), as Cornell's successor, ensuring the continuity of the company's vision and operations.

This announcement coincides with Target's latest earnings report, which showed a third consecutive quarter of declining sales.

Furthermore, the company is facing public scrutiny and consumer boycotts related to the reversal of its diversity, equity, and inclusion (DEI) policies.

Very damning graph published in the WSJ today showing the decline of Target compared to Walmart. If you were the incoming CEO of @Target, what would you do to turn the business around? pic.twitter.com/dlWbrUSJpx

— Moiz Ali (@moizali) August 20, 2025

From Intern to CEO in 22 yearsTarget's new chief exec Michael Fiddelke has an unreal LinkedIn profile pic.twitter.com/cFlzTZO0GJ

— Morning Brew ☕️ (@MorningBrew) August 20, 2025

Brian Cornell will officially end his role as CEO of Target on February 1, 2026.

After that date, he will not leave the company entirely, but will instead transition to a new position as Executive Chairman of the Board of Directors.

This role will allow Cornell to continue to contribute his strategic contributions and extensive experience to the company during the transition.

Target's Board of Directors has unanimously appointed Michael Fiddelke as Cornell's successor.

Fiddelke is not new to Target; he is a 20-year veteran of the company, serving as Chief Operating Officer (COO) prior to his appointment as CEO.

His extensive experience and deep understanding of Target's operations are expected to lead the company through its next phase.

Cornell's decision to step down is the result of careful succession planning, which began when his contract was renewed in 2022.

At that time, Target's CEO retirement age policy was removed, allowing Cornell to remain in the position beyond age 65.

However, this resignation also comes amid three consecutive quarters of declining sales for Target and the company's struggle to reverse a persistent sales decline.

Additionally, Target is facing consumer backlash and boycotts sparked by a reversal of its diversity, equity, and inclusion (DEI) policies.

These challenges add to the complexity of the leadership transition and demand new strategies from incoming management.

Brian C. Cornell has served as Chairman and Chief Executive Officer (CEO) of Target Corporation since August 2014, a transformative 11-year tenure at the helm.

Under his leadership, Target underwent significant modernization, strengthened its physical store footprint, and dramatically expanded its e-commerce capabilities.

Prior to joining Target, Cornell had more than three decades of leadership experience at leading retail and consumer products companies.

He served as CEO of PepsiCo Americas Foods, Walmart's Sam's Club unit, Michaels Stores, Inc., and Safeway Inc.

He also holds a strong educational background, with a bachelor's degree from UCLA in 1981 and further education at the Anderson School of Management and the advanced management program at the Wharton School at the University of Pennsylvania.

During his tenure at Target, the company's revenue grew by more than 50%, with revenue increasing by $34 billion in 11 years.

Cornell has also successfully navigated the company through various crises, including the COVID-19 pandemic and drastic changes in consumer habits.

For his leadership, he has received several national awards, including CNN's "Business CEO of the Year" in 2019 and the National Retail Federation's "The Visionary" award in 2022.

While Cornell's total compensation at Target is expected to reach $18.1 million in 2023, it decreased to $9.9 million in 2024.

While Brian Cornell's leadership has brought significant innovation and brand strengthening to Target, the last few years of his tenure have been marked by significant challenges.

The company has struggled with sustained sales declines and significant market share losses.

Inventory management issues have also come under scrutiny, particularly in recent years, impacting operational efficiency and customer satisfaction.

One of the biggest challenges Target has faced under Cornell's leadership is the ongoing consumer boycott.

The boycott began in late January after Target rolled back several of its diversity, equity, and inclusion (DEI) initiatives.

The new leadership under Michael Fiddelke will face a tough task in addressing declining sales, restoring consumer confidence, and navigating a rapidly changing retail landscape.