The new CEO is taking over at time when Target’s sales are in a funk, its stores are messy and understocked, and it’s losing market share to rivals like Walmart.
WASHINGTON — Target CEO Brian Cornell, who helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic, plans to step down Feb. 1.
Minneapolis-based Target said Wednesday that Chief Operating Officer Michael Fiddelke, a 20-year company veteran, will succeed Cornell.
Cornell said Fiddelke’s appointment followed several years of board vetting of both internal and external candidates. Fiddelke has overhauled Target’s supply network
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