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New Target CEO Maps Path Through Turmoil
2 Feb
Summary
- Michael Fiddelke is Target's new CEO, starting Monday.
- The company faces a stock price down 25% in the past year.
- Fiddelke outlines four key priorities for Target's future.
Michael Fiddelke officially stepped into his role as Target's chief executive on Monday, initiating his leadership with a memo to staff detailing his strategic vision. Having started at Target over two decades ago as an intern, Fiddelke previously served as the company's chief operating officer.
His appointment comes at a critical juncture for the Minneapolis-based retailer. Target's stock performance has seen a decline of about 25% over the past year. Furthermore, the company is navigating internal pressures and external criticism, including employee concerns regarding its response to recent events.
Fiddelke has identified four core priorities to guide Target's path forward. These priorities aim to enhance the guest experience and invest in the professional development of the company's team members. His immediate focus is on listening, acting with clarity and urgency, and leading with purpose to revitalize the brand.
