"Michael Fiddelke, the company's chief operating officer who started as a finance intern, is taking over at a moment when the retailer is under pressure on nearly every front, grappling with a weakening business, political backlash, and growing employee strain. Fiddelke, who officially takes the helm this weekend, will have to contend with 10 of the past 12 quarters having flat or declining comparable sales, as civil unrest unfolds in Minneapolis, where Target is headquartered."
"Peter Schwartz, a CEO coach of 20 years, told Business Insider that Fiddelke is facing a classic leadership paradox. He must balance sensitivity to a politically and socially charged moment with the non-negotiable responsibility of running a business. "This is incredibly complex," said Schwartz, particularly if turning Target's fortunes around and improving employee relations calls for significant changes. A Target spokesperson declined to comment on this story."
Michael Fiddelke, a longtime Target executive who started as a finance intern and most recently served as chief operating officer, takes over as CEO this weekend. Target has recorded flat or declining comparable sales in 10 of the past 12 quarters and its stock has fallen more than 25% over the past year. Civil unrest in Minneapolis, the company's headquarters, adds political and reputational pressure. Target has lost cultural appeal and fell off Fortune's list of 50 most admired companies, while rivals like Walmart and Costco ranked highly. Fiddelke must balance sensitivity to social and political dynamics with urgent operational changes and employee relations improvement.
Read at Business Insider
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