Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.

El director general de Target, Brian Cornell, quien ayudó a revitalizar la compañía pero ha tenido dificultades para revertir las

Target CEO Brian Cornell is stepping down after 11 years amid struggles at one of America’s most prominent retail chains. Cornell helped engineer a turnaround at Target, but it’s been a rocky few years for the retailer.

Target’s long-time CEO Brian Cornell will step down from the top job on Feb. 1, 2026, when current COO Michael Fiddelke will succeed him.

Shares of Target Corp. slumped 10.5% in premarket trading Wednesday, after the discount retailer said it was replacing for Chief Executive Brian Cornell, who has been in charge for the past 11 years, with current Chief Operating Officer Michael Fiddelke, effective Feb. 1, 2026.