Target CEO Brian Cornell To Step Down Amid Declining Sales

Target CEO Brian Cornell To Step Down Amid Declining Sales

Brian Cornell is stepping away from Target.

Cornell, who joined Target as CEO in 2014, will be replaced on February 1, 2026, by current COO Michael Fiddelke. Cornell said Fiddelke is the “right candidate to lead our business back to growth” after being chosen from a “strong list of external and internal candidates.”

Target has struggled recently, reporting declining sales for the third-straight quarter. One contributing factor is the backlash over its decision to roll back DEI programs.