Target's New CEO Hits the Ground Running

Michael Fiddelke makes swift changes in his first two weeks on the job to address the retailer's challenges.

Published on Feb. 16, 2026

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Target's new CEO, Michael Fiddelke, has wasted no time tackling the company's issues since taking over the top job just two weeks ago. Fiddelke has already visited stores and distribution centers, committed additional funding to community programs, and made tough decisions like laying off 500 corporate and supply chain workers to shift resources to improve the in-store shopping experience. Experts say Fiddelke is determined to make his own mark on the company and restore customer trust, though he faces a long road ahead to fix Target's flat sales, strained employee relations, and competitive pressures.

Why it matters

Fiddelke's swift actions in his first two weeks as CEO signal he is serious about driving change at Target and not content to maintain the status quo. As the company has faced headwinds in recent years, Fiddelke's early moves to reconnect with customers, empower store employees, and streamline the leadership team indicate he is willing to make tough decisions to get Target back on track.

The details

In his first companywide meeting, Fiddelke acknowledged Target "didn't do enough" to maintain customer trust in recent years and pledged an additional $1 million to the company's community program. He has also visited stores and distribution centers, fulfilling a promise made before his start date. Fiddelke also laid off 500 corporate and supply chain workers to shift more labor to stores, a move experts say was needed to improve the in-store experience. The CEO also made two key C-suite appointments to simplify Target's leadership structure.

  • Fiddelke started as Target's new CEO two weeks ago.
  • Fiddelke held his first companywide meeting and announced the $1 million community program commitment.
  • Target laid off 500 workers across district offices and the supply chain on Monday.

The players

Michael Fiddelke

Target's newest CEO who has moved quickly to address the retailer's challenges since taking over the top job two weeks ago.

Brian Cornell

The outgoing Target CEO who will remain as executive chairman, a move that has tied the hands of new CEOs at other companies in the past.

Neil Saunders

A Global Data retail analyst who was initially skeptical about whether Fiddelke would make meaningful changes, but now says his early moves indicate he is determined to put his own stamp on the company.

Gerald Storch

A 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 are a good start.

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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 making tough decisions to address Target's fundamental issues, including three years of flat or declining sales, a strained relationship with customers and employees, and increasing competitive pressures.

The takeaway

Fiddelke's swift actions in his first two weeks as Target's new CEO signal he is serious about driving change and not content to maintain the status quo. While he faces a long road ahead to fix the retailer's challenges, his early moves to reconnect with customers, empower store employees, and streamline the leadership team indicate he is willing to make tough decisions to get Target back on track.