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You are currently viewing Why New Target CEO Michael Fiddelke Must Put The Fun In Fundamentals

Target Corp. is entering one of the most critical chapters in its history, with long-serving insider Michael Fiddelke confirmed to take over as chief executive on Feb. 1 next year.

Currently Chief Operating Officer Fiddelke, who has also acted as Target’s CFO, will succeed 66-year-old CEO Brian Cornell, who will become Executive Chair of Target’s board of directors.

Fiddelke’s appointment comes at a time when the Minneapolis-based retailer, once a darling of middle-class U.S. consumers for its affordable-but-chic image, has struggled amid sluggish sales, a faltering brand identity, and a sharp drop in investor confidence. That was not helped by the recent conclusion of its deal with Ulta Beauty, which will officially end in August next year.

Discouragingly, shares fell as much as 10% following news of Fiddelke’s appointment, underscoring scepticism facing the incoming chief. Yet the 48-year-old executive, a 20-year company veteran, insists he has

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