Michael Fiddelke, a 20-year Target veteran and current chief operating officer, will become CEO on Feb. 1. He overhauled Target's supply network, expanded stores and digital services, and cut costs. He will prioritize reclaiming merchandising authority, improving the shopping experience by ensuring consistently stocked, clean stores, and investing in store and supply-network technology. Target faces sluggish sales, messy, understocked stores, and market-share losses to rivals after the COVID pandemic. The leadership change surprised some analysts who expected an outsider and raised concerns about entrenched groupthink and an inward-looking mindset. The change coincided with another quarter of weak results.
When we're leading with swagger in our merchandising authority, when we have swagger in our marketing, and we're setting the trend for retail, those are some of the moments I think that Target has been at its highest in my 20 years, he said.
He said he's stepping into the role with three urgent priorities: reclaiming the company's merchandising authority; improving the shopping experience by making sure shelves are consistently stocked and stores are clean; and investing in technology at the company's stores and in its supply network.
Fiddelke has overhauled Target's supply network and expanded the company's stores and digital services while cutting costs.
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