Aug. 20 (UPI) -- Target on Wednesday announced that Cheif Operating Officer Michael Fiddelke will be the company's next cheif executive officer.
Target's board of directors unanimously voted for Fiddelke to succeed current CEO Brian Cornell effective on Feb. 1, 2026.
"Fiddelke has been instrumental in building many of the company's core strengths, holding leadership roles across merchandising, finance, operations, and human resources," the company said in a press release.
The company reported its fiscal second-quarter results, which topped Wall Street's quarterly sales and earnings expectations, but its annual sales declined.
Target's annual sales have been flat the past four years, and Fiddelke told reporters on a call he was "stepping in with urgency to rebuild momentum and return to profitable growth."
