Target CEO Brian Cornell is stepping down in 2026, replaced by the COO. This follows declining sales attributed to increased competition, economic concerns, and a customer boycott sparked by the company's scaling back of DEI initiatives. The boycott, fueled by conservative backlash and a call for a 40-day Target fast, significantly impacted sales, contributing to a 21% drop in net income during the second quarter. Cornell, who revitalized Target in 2014, struggled to navigate these challenges in recent years.

Prepared by Christopher Adams and reviewed by editorial team.