Target CEO Michael Fiddelke Hits the Ground Running in First Weeks on the Job

New CEO aims to restore customer trust and improve in-store experience after years of flat sales and rocky relationships.

Published on Feb. 16, 2026

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Michael Fiddelke, Target's newest CEO, has wasted no time getting to work on the retailer's most pressing issues since taking over the role just two weeks ago. Fiddelke has already visited stores and distribution centers, committed an additional $1 million to the company's community program, and overseen layoffs of 500 corporate and supply chain workers to shift resources to improve the in-store experience. The moves signal Fiddelke's determination to make his own mark and address Target's recent challenges, including flat sales, strained customer relationships, and competitive pressures.

Why it matters

Fiddelke's early actions as CEO indicate he is focused on restoring customer trust and improving Target's in-store operations after years of flat or declining sales and criticism over the company's handling of issues like diversity efforts and its relationship with the Minneapolis community. His willingness to make tough decisions like layoffs shows he is committed to driving change, though experts caution that fully addressing Target's fundamental issues will take time.

The details

In his first companywide meeting, Fiddelke acknowledged that Target "didn't do enough" to maintain customer trust in recent years and pledged to reconnect with local communities. He also announced a $1 million commitment to the company's Bullseye Builds program and noted that employees had logged over 1 million volunteer hours in 2025. Fiddelke has also visited stores and distribution centers, and on Monday the company laid off 500 corporate and supply chain workers to shift more labor to stores. The next day, Target announced new chief merchant and chief operating officer roles, simplifying its executive structure.

  • Fiddelke became Target's new CEO two weeks ago.
  • The company announced 500 layoffs on Monday, February 13, 2026.
  • Target revealed new C-suite appointments on Tuesday, February 14, 2026.

The players

Michael Fiddelke

Target's newest CEO, who has wasted no time addressing the retailer's challenges since taking over the role just two weeks ago.

Brian Cornell

Outgoing Target CEO who is staying on as executive chairman, a move that some experts say can tie the hands of new CEOs.

Neil Saunders

Global Data retail analyst who initially questioned whether Fiddelke would be willing to make meaningful changes, but now says his early moves indicate a determination to put his own stamp on the company.

Gerald Storch

Former Target board member who says the company has a lot of fundamental issues that won't be solved in two weeks, but that Fiddelke's early actions show he's getting on with remedying them.

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What they’re saying

“He's got off to a running start. He wants change, but I think he's also keen to be seen that he wants change at Target.”

— Neil Saunders, Global Data retail analyst (Business Insider)

“If yesterday was a true glimpse of Fiddelke stepping up, honestly, it's a good start. He seems to be very much on point with trying to restore guests' faith in us as a company.”

— Anonymous Target employee (Business Insider)

“Adding labor to the stores is a good move. The stores had gotten too messy, the lines had gotten too long upon checkout, and there were too many items out of stock.”

— Gerald Storch, Former Target board member (Business Insider)

What’s next

Fiddelke will need to sustain his early momentum and continue addressing Target's fundamental challenges, including flat or declining sales, strained customer relationships, and competitive pressures, over the months and years ahead.

The takeaway

Fiddelke's decisive early actions as Target's new CEO, including committing more resources to stores, simplifying the executive team, and acknowledging the company's past missteps, suggest he is determined to quickly make his mark and restore customer trust in the retailer after years of struggles.