Target's new CEO, Michael Fiddelke, has not discussed DEI directly, prioritizing retail logistics over cultural messaging.

Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.

Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and inclusion policies.

Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.

Target CEO Brian Cornell announced he will step down from the position. Here’s what to know about one of Minneapolis’ top employers.

Target promoted insider Michael Fiddelke on Wednesday as its new CEO to turn around the struggling retailer after a series of challenges over recent years that caused its shares to vastly lag those of its peers.

Following news that Ulta Beauty is ending its partnership with Target, another retailer has come into view: Warby Parker.

Wednesday, after the discount retailer said it was replacing for Chief Executive Brian Cornell, who has been in charge for the past 11 years, with current Chief Operating Officer Michael Fiddelke, effective Feb.

Target's choice to name insider Michael Fiddelke as its new CEO in an effort to turn around the struggling retailer was met with a negative reaction from the stock market, as investors viewed the 20-year company veteran as unlikely to fix the company's myriad issues.