01—Abstract
Summary
Summary of the 8-K filed August 20, 2025. Cited figures are marked; the original filing is the authoritative source.
Target Corporation announced a significant leadership transition, appointing Michael J.
Fiddelke as the company's next Chief Executive Officer, effective February 1, 2026. This move follows a comprehensive succession planning process by the Board of Directors.
Mr. Fiddelke, currently the Executive Vice President and Chief Operating Officer, has a long tenure with Target since 2004, including previous roles as CFO. This appointment signals continuity and a planned handover of leadership responsibilities.
02—Key points
Key Highlights
- Michael J. Fiddelke appointed as the next CEO of Target, effective February 1, 2026.
- Brian C. Cornell will step down as CEO on February 1, 2026, and continue as Executive Chair of the Board.
- Mr. Fiddelke has been with Target since 2004, holding key executive positions including COO and CFO.
- The transition is a result of a comprehensive succession planning process by the Board of Directors.
- The specific compensation arrangements for both Mr. Cornell and Mr. Fiddelke related to these changes will be disclosed upon approval.
03—Questions
Frequently Asked Questions
Who is the new CEO of Target and when does the transition take effect?
Michael J. Fiddelke has been appointed as the next Chief Executive Officer of Target, with the transition becoming effective on February 1, 2026.
What will Brian C. Cornell's role be after stepping down as CEO?
Brian C. Cornell will step down as Chief Executive Officer on February 1, 2026, and will continue to serve the company as the Executive Chair of the Board.
What is Michael J. Fiddelke's background at Target?
Michael J. Fiddelke has been a long-standing employee of Target since 2004. His recent roles include Executive Vice President and Chief Operating Officer (February 2024 to present) and Executive Vice President and Chief Financial Officer (November 2019 to September 2024).
When will details about the compensation for the CEO transition be available?
The material terms of the compensation arrangements for Mr. Cornell and Mr. Fiddelke related to these leadership transitions will be disclosed once they have been approved by the Board.
04—Continue