Target Corporation announced that CEO Brian Cornell will step down in February 2026 after more than a decade leading the company. This decision comes amid the retailer's third consecutive quarter of declining sales and a drop in market valuation. Cornell's tenure saw Target initially praised for its omni-channel retail strategy, but recent challenges include falling sales and a strategic pullback from diversity, equity, and inclusion (DEI) initiatives. The company has faced criticism related to these changes and its previous commitment to so-called “woke” policies. Michael Fiddelke, a longtime Target executive, has been appointed as the incoming CEO. Under Fiddelke's leadership, Target plans to revise its strategy to fulfill nearly all digital orders from stores, aiming to enhance the in-store shopping experience and improve overall performance.