After eleven years as Target's CEO, Brian Cornell is stepping down, though he will stay onboard as an executive chairman.
This move was "widely expected."
Target went woke, felt the pushback from half of the country, hit the brakes on the woke stuff, then felt the pushback from the other half of the country, and now this dude is done.
From CNN:
Target on Wednesday reported sales fell for the third-straight quarter. Shares fell 10% in premarket trading. Target's (TGT) stock is among the worst performing companies in the S&P 500 this year.
...
The last three years have been unkind to target, but 2025 has been particularly tumultuous.
Earlier this year, the company ended some of its DEI programs. The decision angered supporters of diversity and inclusion policies, who felt blindsided by Target. Customers online protested Target's decision, and Anne and Lucy Dayton, the daughters of one of Target's co-founders, called the company's actions 'a betrayal.' Target acknowledged its move hurt its sales.
Many wanted Target to look for an outsider to fill the CEO role, but they picked a guy who has climbed the corporate ladder.
Bro started as an intern and has been there for 20+ years.
We'll see if Michael Fiddelke can clean things up at Target.
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