Wed, 20 Aug 2025

Wed, 20 Aug 2025 Target appoints new boss as it seeks to revive sales

Shares in Target dropped nearly 11% before recovering slightly after the announcement.

* Target has appointed Michael Fiddelke as its new CEO, who will take over from Brian Cornell in February.
* Fiddelke has been with the company for 20 years and has been chief operating officer since 2015.
* The appointment comes as the company struggles to reverse a decline in sales and share price due to rising prices and uncertainty over US tariffs.
* Fiddelke has pledged to improve product quality, embed more technology in the business, and get the company back to growth.
* Analysts have expressed mixed feelings about the appointment, with some suggesting it may not be enough to remedy the company's problems.
* Target's share price fell by more than 6% on Wednesday following the announcement.
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