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Target CEO Brian Cornell is stepping down after 11 years, to be replaced by COO Michael Fiddelke in February 2026. Cornell's tenure saw initial success, including store remodeling and online expansion, but recent years have brought slumping sales, partly due to strategic missteps, backlash over its DEI retreat, and increased competition. Target's stock performance has suffered, and analysts express mixed opinions on the company's future prospects, with some questioning the internal succession.

Prepared by Christopher Adams and reviewed by editorial team.