Michael Fiddelke, Target's current chief operating officer, will succeed Brian Cornell as chief executive officer, the company said in a release. Cornell, who has served as the company's CEO since 2014, will step down and Fiddelke will take over the role on Feb. 1, 2026.

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

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.