Michael Fiddelke will become Target's CEO in February, succeeding Brian Cornell after more than 20 years with the retailer. He joined Target as a finance intern during an MBA at Northwestern's Kellogg School of Management and held roles in merchandising, finance, operations, and human resources. He served as chief financial officer from 2019 to 2024 and became chief operating officer in 2024. As COO he oversaw nearly 2,000 U.S. stores, the global supply chain network, fulfillment services, network capacity planning, enterprise operations, and delivery services. He will lead a multi-year Enterprise Acceleration Office aimed at delivering $2 billion of efficiencies as Target responds to competition from budget rivals.
Fiddelke, 49, worked at Deloitte for three years after graduating from the University of Iowa with a degree in industrial engineering in 1999. However, he gave up a career at the Big Four firm to pursue an MBA at Northwestern University's Kellogg School of Management, during which he joined Target as a finance intern. He got his first permanent position as an analyst in the financial unit in 2004.
In that role, Fiddelke was tasked with overseeing Target's nearly 2,000 stores throughout the US, including leading its global supply chain network, fulfillment services, network capacity planning, enterprise operations, and delivery services. When the company announced its first-quarter results in May, it said Fiddelke would lead a "multi-year Enterprise Acceleration Office" tasked with delivering $2 billion of efficiencies across the company, which has lost out to rivals as more customers have shifted to budget alternatives like Walmart.
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