The goal of chooses Michael Fiddelke as Executive Director to replace Brian Cornell

Target On Wednesday he said Veteran Michael Fiddelke would become his next director in a critical point in his effort to break out of the sale of sales and win the draft on the support of Wall Street.

Fiddelke, 49-year-old Head of Operations Officer and former main financial finance, will succeed in force in Corn Cornell. Cornell, which is a great HELM cheap chic retail in 2014. years, transition to the role of executive chairpersonia of directors of directors.

Minneapolis-based retail gave an announcement on the same day Reported fiscal results of the second quarter. The three-hour sales and earnings on top is at the top, but stuck a full-year view that forecasts another annual decline in sales.

Fiddelke pours on the upper role of the goal while retail is a large box trying to find their footer and return to growth. The annual sales of goals in the last four years was a rough apartment after the sale of the company has increased during the preamen pandemic.

Call with journalists, Fiddelke said that “enters the urgency to rebuild swing and return to profitable growth”.

He set three priorities: re-establishing a targeted reputation of the seller with elegant and unique cases, providing more consistent customer experience and more efficient use of technology to effectively use efficient business.

“We built a solid basis, and we are proud of many ways in which the goal is unique in American retail,” he said. “We also have a real job ahead.”

Target actions fell more than 6% on Wednesday after the company has brought the announcement and published results. Before the goal has announced its choice, Wall Street seems to hit the outsider for a top job.

“You know, I think I’m a little surprised that there was no way to take a leading role. I think it’s part of the action here,” said Stacei Vidlitz, President of SV retail, on CNBC’s box “Squavk Hi”.

Fiddelke is a 20-year-old target veteran. During decades with the company, he held roles of management through trade, finance, operations and human resources. The main financial officer became a target in relation to the role of the main operational officer at the beginning of 2024. years.

In May it was eavesdropped to oversee a new effortThe company acceleration office was created to rotate the results of the goal.

Target reduce his full year’s appearance in May And he repeated that direction on Wednesday, saying that he expects a percentage of percentage of the percentage of percentage in the sale of this fiscal year.

The performance of the target has a Wall Street confidence. The company’s shares fell about 60% of all streets 2021. years. The target action threw 22% in 2025. Years from Tuesday near Tuesday.

Customers, former employees and suppliers said CNBC that is the most famous trait of a company that catches goods, a neat shop and friendly employees They became weaker. The seller is also faced with a firmer rival competition including Walmartwhich oppose costs due to tariffs and dealing with a feedback on its reversing key diversity, rules in equity and inclusion.

And last week, Ulta Beauty and the goal has been announced They end the deal It opened mini beauty swimmers in almost a third of the goals store. The partnership will end in August 2026. years.

Wall Street was favored by the outsider for the Business Director, according to June 51 investors by Mizuho Securies, a capital research company. About 96% of surveyed investors favored an external rent for the following director of the goal.

Christine Leahi, lead independent director of the goal of the goal, said in the issue of news that the Committee chose Fiddelke after a “extensive external search and assess many strong candidates” over several years.

“Michael’s mandate gives him incomparable enterprise intrusion and a database of strong team trust,” she said. “But what he separated it was combining those strengths with” fresh eyes “of mind, challenging status quo to evolve how business acts, distinguishes and brings long-term value.”

The call with journalists, Cornell and Freddelke asked what to tell investors who hoped the goal would hire an outsade that would bring fresh ideas.

Fiddelke replied to the question.

“I understand this job,” he said. “I understand what the goal is extremely unique. And I saw us in my everything and saw us when we were not at the best, and today he informs my sincere estimate today.” And today he keeps informing my sincere estimate. “

“But I’ll be back to some of what I started with: My goal number one is to get us back to grow.”