Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

Target, which has about 1,980 U.S. stores, has been the focus of consumer boycotts since late January, when it joined rival Walmart and a number of other prominent American brands in scaling back corporate diversity, equity and inclusion initiatives.

Target CEO Brian Cornell to step down, COO announced as replacement originally appeared on Bring Me The News. Target CEO Brian Cornell will step down from his role in February, with longtime employee Michael Fiddelke tapped to replace him.

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Target, which has about 1,980 US stores, has been the focus of consumer boycotts since late January when it scaled back corporate diversity, equity and inclusion initiatives.

Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Shares of Nasdaq listed Target Corporation plunged 11% in opening trade hitting a low of $94.15 after the company said that its board has unanimously elected Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as Chief Executive Officer and become a member of its Board of Directors.

Target's chief operating officer, Michael Fiddelke, is set to succeed current CEO Brian Cornell in 2026. Cornell will transition to the role of executive chair of the board of directors. MINNEAPOLIS (FOX 9) - Target CEO Brian Cornell will be replaced by chief operating officer Michael Fiddelke in early 2026.

Target Corp. named veteran Michael Fiddelke as its next chief executive officer, betting that the insider will revive the storied retailer struggling with weak sales.

Target Corporation ( NYSE: TGT) Q2 2025 Earnings Conference Call August 20, 2025 8:00 AM ET Brian C. Cornell - Chairman of the Board & CEO James Lee - Executive VP & CFO John Hulbert - Vice President of Investor Relations Michael J. Fiddelke - Executive VP & COO Richard H. Gomez - Executive VP & Chief Commercial Officer

Target Corporation shares fell over 10% premarket on Wednesday after the retailer its new CEO while also reporting second quarter earnings that narrowly beat estimates but showed continuing sales challenges.