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Fortune

Sheryl Estrada

New Target CEO, a former CFO, ‘must prove he’s not just another insider,’ executive recruiter says

Target Michael Fiddelke Shawn Cole Brian Cornell

(Credit: Getty Images)

Good morning. There’s more executive turnover in the Fortune 500.

Target CEO Brian Cornell is stepping down, and Michael Fiddelke, chief operating officer (COO), will become chief executive on Feb. 1, 2026. Cornell has led Target for 11 years. Fiddelke began his career at Target as an intern in 2003.

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