In 2014 Brian Cornell became Target's chairman and CEO after leadership roles as CEO of PepsiCo's Americas Foods and president and CEO of Sam's Club. He committed to empower the team, lead change, strengthen guest affinity, and accelerate an omnichannel transformation while focusing on performance in the U.S. and Canada. After more than a decade, Cornell will step down as CEO and Chief Operating Officer Michael Fiddelke will become CEO on Feb. 1, 2026; Cornell will remain executive chairman. Target beat fiscal second-quarter expectations and affirmed its outlook, yet shares have fallen substantially and same-store visits have declined for roughly 18 months.
I am committed to empowering this talented team to realize its full potential, lead change and strengthen the love guests have for this brand,
As we create the Target of tomorrow. I will focus on our current business performance in both the U.S. and Canada and on how we accelerate our omnichannel transformation.
To be clear, while we were happy to see improvement in Q2, we are far from satisfied with where our business is performing today,
We need to do better, and our entire team is focused on consistent execution building further momentum and getting back to profitable long term.
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