Target Stock Down 64% as CEO Brian Cornell Retires, Michael Fiddelke Named Successor
Target’s Leadership Change
Brian Cornell, who has led Target since 2014, announced his retirement after more than a decade at the helm. His successor, Michael Fiddelke, a longtime insider who previously served as CFO, will step into the CEO role.
Investors had hoped Target would bring in an external leader to reset strategy amid falling stock performance, but the company opted for continuity in leadership.
Stock Decline Raises Investor Concerns
Target’s stock has fallen 64% over the past four years, one of the steepest declines among major U.S. retailers. Analysts attribute the slump to slowing sales, shifting consumer demand, and challenges competing with Walmart and Amazon.
The disappointing trajectory has left shareholders questioning whether leadership changes will be enough to reverse momentum.
Source: CNBC
What This Means for Target
- Continuity in leadership: Fiddelke’s promotion signals internal trust in existing strategy.
- Investor skepticism: Many hoped for a fresh perspective to revitalize growth.
- Competitive pressure: Walmart and Amazon continue to outpace Target in e-commerce and pricing power.