Target CEO Brian Cornell Steps Down Amid Sales Decline, COO Michael Fiddelke Named Successor

Target CEO Brian Cornell announced he will step down in February 2026 amid ongoing struggles with declining sales and public backlash over the company's focus on diversity, equity, and inclusion (DEI) initiatives. Cornell, who has led Target for 11 years, will be succeeded by Chief Operating Officer Michael Fiddelke, a longtime company insider tasked with reviving Target's sales and brand reputation. The retailer has faced criticism for its heavy promotion of LGBTQ-themed merchandise and Pride displays, which alienated some customers and contributed to a boycott that many believe impacted sales. Target's shares have dropped over 23% this year, with sales declining for three consecutive quarters and a 21% fall in net income reported recently. TikTok users and other social media commentators have linked Cornell's departure to the rollback of DEI programs and celebrated the potential success of the boycott. Analysts note that Target's earlier success during the pandemic has given way to a loss of consumer trust, with the company now struggling to reconnect with its core shoppers and promising to improve its merchandising and marketing strategies under new leadership.