"This is the next in our series on the worst CEOs in America. There will be an all-time winner later in the year. These chief executives were picked based on their major strategy stumbles, as well as how decisions they made affected shareholders, customers, and employees. Some of these CEOs are fairly new to the public corporations they run. Others have had their jobs for years."
"It is a good thing for investors that they will not have Target Corp. ( NYSE: TGT) CEO Brian Cornell to kick around anymore. He has taken the retailer through a ruinous period. He took the job in 2014. The Target board showed remarkably bad judgment and kept Cornell on as executive board chair. In a second shocking development, the board made Michael Fiddelke, current chief operating officer, the new CEO as of February 1, 2026. As Cornell ruined Target, Fiddelke helped him."
Target experienced major leadership and strategic failures under Brian Cornell and Michael Fiddelke. Brian Cornell became CEO in 2014 and was later kept on as executive board chair. Michael Fiddelke, formerly chief operating officer, was named CEO effective February 1, 2026. Target's stock fell 49% over five years while the market rose 88%, and the stock dropped about 30% in the past year compared with a 15% market rise. Competitors saw substantial gains: Walmart up 118% and Costco up 135% over five years. Recent quarterly results showed net sales down 1.5% to $25.3 billion and earnings down 18.2% to $1.52 per share. For the first three quarters, revenue fell 1.7% to $74.3 billion and earnings dropped 9.6% to $5.85 per share. Of 38 analysts covering Target, 28 rate it Sell or Hold, and their average price target is $96.52.
Read at 24/7 Wall St.
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