On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.

The company's current COO, Fiddelke believes that "being unapologetically and unmistakably Target" will help get the Minneapolis-based retailer back on track.

Target Corporation shares tumbled 11% after COO Michael Fiddelke was named CEO, succeeding Brian Cornell. The leadership shift comes amid weak sales, customer churn, and operational challenges. Cornell will transition to executive chair effective February 2026.