In a significant move for one of America’s largest retailers, Target Corporation has announced the appointment of Michael Fiddelke as its next Chief Executive Officer. Effective February 1, 2026, Fiddelke, a longtime insider with over two decades at the company, will succeed Brian Cornell, who has led Target since 2014. This transition comes at a pivotal time for Target, as the company navigates a dynamic retail landscape marked by shifting consumer behaviors, economic pressures, and intense competition from online giants and discount rivals.
Fiddelke’s selection underscores Target’s confidence in its internal talent pipeline, opting for continuity and deep institutional knowledge over an external hire. As the current Chief Operating Officer, Fiddelke has been instrumental in shaping Target’s operational strategies, and his elevation to CEO signals a commitment to building on the foundations laid during Cornell’s tenure, which saw revenues grow by $34 billion to over $100 billion.
With a reputation for resolving complex challenges and fostering innovation, Fiddelke steps into the role with high expectations to reignite growth and enhance it’s position as a beloved omnichannel retailer. This appointment follows a deliberate succession process by Target’s Board of Directors, which included an extensive external search but ultimately concluded that Fiddelke’s unique blend of experience and fresh perspective made him the ideal choice.
Christine Leahy, the lead independent director, emphasized Fiddelke’s unmatched enterprise insight and his ability to challenge the status quo. Meanwhile, Cornell praised Fiddelke’s resolve, passion for growth, and inspirational leadership. Fiddelke himself expressed honor in the role, highlighting his deep commitment to Target’s brand, team, and future potential.
As Target prepares for this leadership change, stakeholders are keen to see how Fiddelke will leverage the company’s strengths—such as its nearly 2,000 stores, $30 billion owned-brand portfolio, digital prowess, and loyalty programs—to drive long-term success.
Early Life, Education, and Entry into the Professional World
Michael Fiddelke’s journey to the helm of Target is a classic tale of perseverance and strategic career building, rooted in Midwestern values and a strong educational foundation. Born in Iowa, Fiddelke grew up in a state known for its agricultural heritage and hardworking ethos, which likely influenced his pragmatic approach to business.
At 49 years old, he now resides in the Twin Cities area of Minnesota, home to Target’s headquarters in Minneapolis. His early life details remain relatively private, but his professional path reveals a focused individual dedicated to operational excellence and continuous improvement.
Fiddelke’s academic pursuits laid the groundwork for his analytical mindset. He earned a Bachelor of Science in Industrial Engineering from the University of Iowa, a program renowned for equipping students with skills in systems optimization, process efficiency, and problem-solving—disciplines that would prove invaluable in his retail career.
Industrial engineering emphasizes designing and improving integrated systems, which aligns perfectly with the complexities of retail operations, from supply chain management to inventory control. This technical background provided Fiddelke with a unique lens through which to view business challenges, distinguishing him from peers with more traditional business or finance degrees.
Building on this foundation, Fiddelke pursued advanced studies at Northwestern University’s Kellogg School of Management, where he obtained his Master of Business Administration (MBA). Kellogg is celebrated for its emphasis on leadership, innovation, and collaborative problem-solving, and Fiddelke’s time there honed his strategic thinking and managerial acumen.
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During his MBA program, he gained practical experience through internships, which set the stage for his entry into Target. In 2003, while still a student, Fiddelke joined Target as a summer intern in the finance department. This initial role was modest, but it offered him a firsthand look at the inner workings of a major retailer, from financial analysis to operational support.
Prior to Target, Fiddelke spent three years at Deloitte Consulting, LLP, a global professional services firm. At Deloitte, he worked on consulting projects that involved advising clients on business strategy, process improvements, and operational efficiencies.
Investors panned Target's choice of insider Michael Fiddelke as CEO, viewing the 20-year company veteran as unlikely to fix the retailer's myriad issues that have resulted in years of stock-market underperformance https://t.co/u73JEfsYo0 pic.twitter.com/MmqvQwUwfI
— Reuters (@Reuters) August 20, 2025
This experience exposed him to diverse industries and sharpened his consulting skills, teaching him how to diagnose organizational issues and implement scalable solutions. Transitioning from consulting to retail might seem like a shift, but Fiddelke’s engineering and MBA background made him well-suited for Target’s data-driven environment. His internship turned into a full-time opportunity, marking the beginning of a 21-year ascent through the company’s ranks.
Fiddelke’s early career at Target was characterized by rapid learning and adaptability. Starting in finance, he quickly demonstrated his ability to handle complex financial modeling and strategic planning. His engineering mindset helped him approach problems systematically, identifying inefficiencies and proposing data-backed improvements.
This period was crucial for building his understanding of Target’s culture, which emphasizes guest satisfaction, team development, and innovation. As an intern-turned-employee, Fiddelke embodied the American dream of rising from entry-level positions through merit and hard work, a narrative that resonates in today’s job market where Gen Z workers seek clear paths to advancement. His story serves as inspiration, showing how foundational education and early professional experiences can propel one to executive leadership in a Fortune 500 company.
Career Progression and Key Achievements at Target
Over the past two decades, Michael Fiddelke has climbed Target’s corporate ladder through a series of increasingly influential roles, showcasing his versatility across multiple functions. After his internship, he held positions in finance, where he contributed to budgeting, forecasting, and financial strategy.
His analytical prowess soon led to opportunities in merchandising, where he worked on product assortment, pricing, and vendor relations—core elements of Target’s retail success. This exposure to the merchandising side gave him insights into consumer trends and inventory management, essential for a company known for its trendy yet affordable products.
Fiddelke’s career diversified further with stints in human resources and operations, allowing him to develop a holistic view of the business. In HR, he focused on talent development and employee engagement, advocating for investments in pay and benefits, including industry-leading wages and programs like Dream to Be, which supports team members’ career aspirations. His operational roles involved overseeing supply chain and store management, areas where he drove efficiencies and scalability.
A major milestone came when Fiddelke was appointed Chief Financial Officer (CFO), a position he held before becoming COO in early 2024. As CFO, he navigated Target through economic volatility, including the challenges of the COVID-19 pandemic, by optimizing financial resources and supporting exponential growth. Under his financial leadership, Target invested heavily in stores, supply chain infrastructure, digital capabilities, and team development. He spearheaded enterprise efficiency initiatives that delivered more than $2 billion in cost savings, freeing up resources for innovation and growth.
Transitioning to COO, Fiddelke assumed responsibility for Target’s nearly 2,000 stores, global supply chain, fulfillment services including same-day delivery via Shipt, enterprise services, and properties. In this role, he established the Enterprise Acceleration Office in May 2025, aimed at simplifying operations, expanding technology use, and increasing flexibility to boost performance and long-term growth. This office represents his commitment to modernization, removing complexity to enable faster decision-making.
Beyond internal operations, Fiddelke serves on the board of Shipt, Target’s same-day delivery subsidiary, further extending his influence in logistics and e-commerce. He also hosts a podcast called “5 with Fiddelke: A Target Conversation,” where he engages with team members on topics like careers, leadership, and innovation, fostering a culture of openness and experimentation.
Fiddelke’s achievements have been pivotal in transforming Target into an omnichannel powerhouse. During his tenure in leadership, the company pioneered concepts like stores-as-hubs, enhanced same-day services such as Drive Up, and grew its digital business while strengthening owned brands. These efforts contributed to significant revenue increases and positioned Target as a resilient player in retail. His ability to balance cost control with strategic investments has earned him respect across the organization, making him a natural choice for CEO.
Leadership Style, Appointment as CEO, and Vision for the Future
Michael Fiddelke’s leadership style is defined by resolve, innovation, and a people-first approach. Described as having a “fresh eyes” mindset, he challenges established practices while leveraging his deep company knowledge to drive change. His engineering background informs a systematic, data-driven method, but he pairs it with empathy, prioritizing team development and inspiration. Colleagues note his natural ability to motivate others and his passion for growth, qualities that will be crucial as CEO.
The appointment process was thorough, with the Board conducting an external search before unanimously selecting Fiddelke. Christine Leahy highlighted his role in returning Target to growth and accelerating strategy in a fast-moving retail environment. Brian Cornell, transitioning to executive chair, endorsed Fiddelke as the best suited to shape Target’s next era. This insider choice reflects confidence in continuity, especially after Cornell’s transformative leadership that turned Target into a $100+ billion omnichannel leader.
Looking ahead, Fiddelke’s vision centers on refocusing strategy, embracing change with pace and purpose, and capitalizing on Target’s unique assets. He acknowledges the work needed to reach full potential, emphasizing growth through incredible products and experiences. Priorities may include enhancing digital integration, optimizing supply chains, and addressing sales challenges amid economic shifts. Fiddelke’s optimism is evident: “My confidence in our team and my belief that Target’s best days are ahead of us could not be higher.”
As CEO, Fiddelke will inherit a company with strong fundamentals but facing headwinds like inflation and competition. His track record suggests a focus on efficiency, innovation, and team empowerment to navigate these. Investors and employees alike anticipate a renewed momentum under his guidance, potentially revitalizing Target’s market position.
In summary, Michael Fiddelke’s rise from intern to CEO exemplifies dedicated leadership. His appointment heralds an exciting chapter for Target, blending proven expertise with forward-thinking vision to ensure the retailer’s enduring success.