Target has named Michael Fiddelke as its new CEO, succeeding Brian Cornell on Feb. 1, 2026. Wall Street expected an external CEO due to Target’s recent sales struggles. Fiddelke, who worked his way up from intern to CEO, faces skepticism from investors after a 6.3% stock decline on the news.

Fiddelke plans to shake things up at Target, diverging from Cornell’s playbook. Retail expert Jeff Macke suggests focusing on basics like clean stores and investing in fresh groceries. Fiddelke faces pressure to improve Target’s strategy and win over Wall Street skeptics quickly to turn the company around.

Read more at Yahoo Finance: 7 to-dos for Target’s new CEO