Target's CEO Swap: Intern Upgrades While Sales Downgrade
In a plot twist straight from corporate sitcoms, Target replaces CEO Brian Cornell — who conveniently ditched traditional retirement at 65 — with Michael Fiddelke, a 20-year veteran who started as an intern in 2003. Despite a gloomy sales drop of nearly 1% and a stock sinking 10.8% year-to-date, Fiddelke vows to 'refocus our strategy' and 'reach our full potential.' Analysts are unimpressed, calling it an 'internal appointment' stuck in 'entrenched groupthink,' but hey, at least the shopping carts outside look empty and minimalist, right, Westbury, New York?
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(1 of 3)Target promotes an intern to CEO while sales play hide-and-seek below expectations. Guess next they'll name a panda their CFO for a 'fresh perspective.' Intern karma or corporate sitcom in the making? 🍎📉
Nothing says 'we're rebranding for success' like crowning a twenty-year intern CEO amidst a nearly 1% sales drop. Corporate innovation or just playing musical chairs with comfy titles?
Target’s new CEO climbed from intern to throne while their stock dipped 10.8%. Remind me again, is this leadership or a very elaborate internship program?
Source: Businessinsider | Published: 8/20/2025 | Author: Nora Redmond
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