Finance
Factbox-From intern to top boss — who is Michael Fiddelke, Target's new CEO
Published by Global Banking and Finance Review
Posted on August 20, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on August 20, 2025
2 min readLast updated: January 22, 2026
Michael Fiddelke, a Target veteran, will become CEO in 2026, focusing on improving operations and competing with Amazon and Walmart.
(Reuters) -Target named longtime company veteran Michael Fiddelke as its CEO, replacing retail industry bigwig Brian Cornell, effective February 1, 2026.
The leadership change comes as inflation and uncertainty from U.S. tariffs raise concerns over consumer spending, particularly for Target's discretionary products such as apparel and electronics.
With the appointment of Fiddelke, Target is also back to picking names from within the company for the top job. Cornell was the first outsider to have been named CEO.
Here are a few facts about the latest CEO of one of the top U.S. retailers:
Target veteran
Fiddelke joined Target in 2003 as an intern and rose through the ranks to hold key positions in finance, merchandising, human resources and operations. He is now the operations head and was finance chief from late 2019 to February 2024.
Early career and education
He worked for three years at Deloitte Consulting LLP before joining Target and holds a degree in industrial engineering from the University of Iowa and an MBA in finance from the Kellogg School of Management.
As COO of Target
As the operations head, he oversaw nearly 2,000 stores, the global supply chain, fulfillment services and enterprise operations. Fiddelke also led a $2 billion efficiency drive to reshape Target's operations through technology, same-day delivery and digital services.
His elevation comes as Target grapples with competition from Amazon and Walmart, as well as internal issues such as inventory management, merchandise missteps and retail crime.
Plans as CEO
Fiddelke said Target needs to "to move faster, much faster", as he works to improve the quality of merchandise, value and style that Target offers, ensure a more consistent shopper experience and to embed more technology in all its businesses.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Arun Koyyur)
Michael Fiddelke is a longtime Target employee who has been appointed as the new CEO, effective February 1, 2026.
Target is grappling with competition from Amazon and Walmart, as well as internal issues like inventory management and retail crime.
Fiddelke aims to improve the quality of merchandise, enhance shopper experience, and ensure Target moves faster in its operations.
Before becoming CEO, Fiddelke served as the Chief Operating Officer, overseeing nearly 2,000 stores and the global supply chain.
Fiddelke holds a degree in industrial engineering from the University of Iowa and an MBA in finance from the Kellogg School of Management.
Explore more articles in the Finance category
