Target announced that Michael Fiddelke, chief operating officer, will become the next CEO on Wednesday.

Fiddelke will take over as Target CEO as the big-box retailer tries to win back both customers and investors after roughly four years of stagnant sales.

Target said Michael Fiddelke, its current chief operating officer, will succeed Brian Cornell as CEO.

Target announced that Michael Fiddelke, chief operating officer, will become the next CEO on Wednesday.

Michael Fiddelke, Target's next CEO, started at the company as an intern and worked his way up — getting promoted or changing jobs roughly every two years.