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?
Share the Story
(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
More Articles in Business
DeSantis Begs Trump For Job; Settles On AG, War, or Supreme Court Like A Drive-Thru Menu
Trump Nominee Promises Fed Independence While Holding $100M in Mystery Investments
Framework Laptop 13 Pro Promises No More 'Gorilla Arm' Pain, Still No Battery Bliss
FedEx, UPS, and DHL Embark on Epic Refund Quest, Customers Await Payback Like Lottery Winners
Tim Cook Steps Down, Apple Picks John Ternus Because 'Risk-Taking' Is Overrated
Apple Hands CEO Reins to Hardware Guy Who Says 'Logistics Are Cute, Look at This Widget'
American Grads Panic, Prefer DoorDash Over Dream Jobs, Blame AI(ish)
Amazon Instructs Vendors to Play Monopoly, Then Calls It Lawful Commerce
