Big Target Shakeup Could Mean Massive Changes In New York

Target just announced a massive leadership shakeup, which could mean big changes are on the way for shoppers in New York.

The head of Target is stepping down as CEO after over 10 years at the helm of the company.

Head Of Target Is Stepping Down

Brian Cornell is out as CEO, but will become a member of its Board of Directors, the company confirmed.

Target COO Michael Fiddelke will replace Cornell as CEO on Feb. 1, 2026.

"There is no one better suited to move Target forward than Michael Fiddelke. He brings a remarkable level of resolve in the face of complex challenges, a deep passion for growth, and a natural ability to inspire those around him to define what's next," Cornell said.

Changes Come After Declining Sales, Boycotts

Cornell is stepping down after a continued decline in sales and backlash from its retraction of diversity, equity, and inclusion hirings. Target announced an end to its hiring goals for minority employees shortly after President Donald Trump took office.

In March, a nationwide 40-day consumer boycott of Target began over Target's recent decision to stop its diversity, equity and inclusion (DEI) program.

Target also warned in March that price hikes were likely, blaming President Trump's tariffs

Target has selected its current chief operating officer, Michael Fiddelke, as Cornell's replacement. However, Cornell will stay with the company in an executive chairman role.

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Could Changes Be Coming To Target?

Changes are very common and often expected when there's a new CEO. These new leaders typically bring their own vision, management style, and strategies that may lead to shifts in executive teams, company culture, and overall business direction.

Cornell has worked for Target for over 20 years. He seemed to hint that changes are coming.

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"My history with the company also deepens my sense of responsibility for where Target goes next, and I step into the role with an urgent commitment to drive growth and deliver better results. I am eager to refocus our strategy and build on the assets and capabilities that have made Target a beloved destination for incredible products and a one-of-a-kind shopping experience. And to be clear, we have work to do to reach our full potential. Now's the time to take full advantage of our strengths, embrace change with pace and purpose, and regain our momentum," he stated.

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