Target Announces CEO Transition: Michael Fiddelke to Succeed Brian Cornell in 2026
Summary
Target Corporation's Board of Directors has appointed Michael J. Fiddelke as the next Chief Executive Officer, effective February 1, 2026. Fiddelke, currently Executive Vice President and Chief Operating Officer, will also join the Board. Brian C. Cornell will step down as CEO but will continue as Executive Chair of the Board. Fiddelke, 49, has been with Target since 2004, previously serving as CFO. The compensation details for both executives related to these changes will be disclosed later.
Why It Matters
This leadership change signals a planned succession at Target, with an internal promotion ensuring continuity. Investors will be watching for the new CEO's strategic direction and the impact of the Executive Chair role.
Key Quote
“On August 15, 2025, following a comprehensive succession planning process, the Board of Directors (the "Board") of Target Corporation ("Target"), appointed Michael J. Fiddelke, Target's current Executive Vice President and Chief Operating Officer, as Target's next Chief Executive Officer and a member of the Board, effective February 1, 2026.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000027419
- Filing Date
- Wednesday, August 20, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- neutral