Target Replaces CEO as Sales Drop Amid DEI Boycott

Target’s CEO, Brian Cornell, will step down as the company seeks to revive its fortunes amid low foot traffic and backlash to ending its DEI efforts.

The reshuffle, which will take effect on February 1, 2026, will see Michael Fiddelke replace Brian Cornell as chief executive officer and join Target’s Board of Directors.

Target’s Declining Fortune

Retail giant Target has been on the decline for years due largely to its strategic missteps, according to CNN. Despite having almost 2000 stores across the US, sales at Target fell more than expected in the first quarter of 2025. 

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The retail giant warned earlier this year that sales would continue to slip through the rest of the year. Customers were scaling back spending over worries about the impact of tariffs and the state of the economy. 

The situation has also been exacerbated by competition from Walmart, Amazon, and Costco. Furthermore, the organization also struggled to recover from boycotts and backlash following its rollback of diversity, equity, and inclusion (DEI) initiatives.

The company’s first controversy was in 2024 when it reduced its LGBTQ+-themed Pride merchandise in response to right-wing pressure. In January 2025, it significantly scaled back many of its DEI initiatives. 

However, this retreat sparked a counter-reaction, with a February poll finding that Americans had altered their shopping habits and boycotted certain stores in response to corporations aligning with the Trump administration’s policies. 

By July, many Black Americans were intentionally boycotting Target and Amazon, following a pledge signed by over 250,000 people to boycott Target after Rev. Jamal Bryant called for a 40-day “Target Fast” during Lent. 

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Target’s Future Executive Reshuffle

Brian Cornell took over the company in 2014 and transformed the retailer, overseeing a strategy to remodel stores and strengthen the chain’s online business to compete with Amazon. He will transition to the role of executive chair of the Board of Directors.

Fiddelke has spent 20 years at Target, leading across merchandising, finance, operations, and HR, and building core strengths. He drove $2 billion in efficiencies and advocated for team member investments, including industry-leading wages and development programs. 

The incoming CEO also launched Target’s Enterprise Acceleration Office to streamline operations, boost technology, and enhance flexibility for faster growth. Fiddelke also championed investments in team member pay and benefits, including industry-leading wages and programs like Dream to Be.

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Effective Feb. 1, 2026, Fiddelke will join the Board of Directors with Cornell moving into the role of executive chair.