Target is about to get a new leader — and he started at the company more than 20 years ago as an intern.
Michael Fiddelke, who currently serves as Target’s chief operating officer, will officially take over as CEO on Feb. 1, 2026, the company announced Wednesday. He’ll also join the board of directors. The decision was unanimous, with the board backing him to succeed longtime CEO Brian Cornell.
“Like so many families, the Fiddelke house spends a lot of time at Target,” Fiddelke said in a video shared by the retailer. “I’ve watched my kids grow up here. … I’ve grown up at Target, too. The intern who walked through those doors 22 years ago would have never predicted this path.”
Fiddelke’s Target story began back in 2003, when he joined as an intern after a stint at Deloitte Consulting. He went on to earn a bachelor’s in industrial engineering from the University of Iowa and an MBA from Northwestern University.
Over the years, he climbed the ranks with roles in merchandising, operations, finance, and human resources. Between 2019 and 2024, he served as Target’s chief financial officer before becoming COO. In both roles, he helped fuel the retailer’s growth by expanding stores, supply chain capabilities, digital platforms, and the workforce.
Today, at 49 years old, Fiddelke oversees nearly 2,000 Target stores, global supply chains, enterprise operations, and fulfillment services. He also sits on the board of Shipt, the same-day delivery company Target bought in 2017.
Most recently, Fiddelke was tapped to lead Target’s new Enterprise Acceleration Office, tasked with generating more than $2 billion in efficiencies.
“There is no one better suited to move Target forward than Michael Fiddelke,” Cornell said in a statement. “He brings incredible resolve in the face of tough challenges, a passion for growth, and a natural ability to inspire.”
Cornell, now 66, will retire after more than a decade as CEO. Back in 2022, Target’s board scrapped its mandatory retirement age of 65 so he could stay on during a critical period for the company as it tried to boost sales and customer traffic.
