Target CEO Brian Cornell to step down after 10 years amid sliding sales
By ONV News Desk | August 21, 2025
Brian Cornell Steps Down as Target CEO, Michael Fiddelke Steps In Amid Retail Turmoil
So, yeah. The calm, everyday hum of American shopping? That just blew up. Target’s longtime boss, Brian Cornell guy’s basically been the company’s dad for ten years is peacing out. On the surface, feels sudden, but honestly, if you’ve had one eye on Target lately, you could see this coming from a mile away. He took over after the whole Target Canada disaster and that nasty data breach, dragged the brand out of the mud, and now… well, the vibes are weird. Target’s stumbling, sales are dragging, and even the die-hards aren’t as jazzed. Rough timing to hand over the keys.
Brian Cornell’s Wild Ride at Target
Forget your usual “CEO rides into the sunset” story. Cornell’s run was a huge comeback tale that turned into a slow-motion trainwreck. Now, he is moving on and the new guy — Michael Fiddelke, the current COO is stepping up. This isn’t just about swapping faces at the top, it is Target waving a big white flag and admitting the company is in some deep trouble.
Rewinding Back to 2014
Back in 2014, Target was in chaos. Customers were spooked after hackers stole data, and the Canada expansion was a complete flop. The brand had no clear identity. Then Cornell showed up (the first outsider CEO in Target’s history) and went to work.
Suddenly, stores got a glow-up no more sad aisles with harsh lights. Instead, bright, modern, Instagram-ready spaces. Cornell pushed a “stores as hubs” model, which seemed risky until COVID-19 hit. That move turned Target into one of the few retailers that could deliver online orders fast.
He also revamped Target’s private-label brands like Cat & Jack and Threshold, making them cool and stylish. For a while, Target was in its prime, when shopping there felt trendy and a little upscale.
The Retail Struggles Begin
But retail changes fast. What worked yesterday does not guarantee success today. Recently, Target has struggled. Sales have been flat or declining in eight of the last ten quarters. Rising inflation has people holding back on discretionary shopping — home décor, clothes, and kitchen gadgets. These were exactly the categories Target relied on.
Then came the DEI controversies. Target tried to balance competing political pressures, but the result left everyone unhappy. By scaling back some initiatives after right-wing backlash, they alienated other parts of their customer base. The brand’s “everyone’s welcome” vibe turned awkward, and in retail, once you lose loyal shoppers, the slide is steep.
What’s Next for Target
Now, with Cornell stepping down, it’s Fiddelke’s challenge to turn things around. Wall Street was unimpressed, the stock dipped, and analysts questioned why the board did not hire an outsider with fresh ideas.
The new CEO must find a way to excite shoppers again, refresh stores (some of which feel neglected), and compete with Walmart and Amazon, who are dominating the retail space.
Target desperately needs its old “cheap chic” identity back. Once it was the place where affordability met style. Today, competitors sell basics for less, and trendy startups are capturing the cool factor Target once owned.
The Legacy and the Challenge Ahead
Brian Cornell’s tenure was a seismic shift. He took Target from post-crisis uncertainty to a retail powerhouse through bold strategies and operational shifts. Yet, the last few years show a decline, market share slipping, consumer sentiment cooling, and brand identity under threat.
Michael Fiddelke inherits more than just a struggling balance sheet. He faces a fundamental brand identity crisis. In today’s market, where customer choices reflect personal values, Target must decide whether it can reinvent its messaging and reclaim its cultural relevance — or risk becoming just another big-box store.
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