Target’s new CEO outlines four priorities as he takes reins
The new chief executive of Target Corp. is ready for the company’s next chapter.
In a letter to consumers, employees and business partners posted on the chain’s website Monday morning, Michael Fiddelke acknowledged that while Target has “real work to do,” it is clear on “the opportunity in front of us.”
“Our guests want great design, real value and experiences that delight,” he wrote. “That’s where Target has always been at its best, and it’s what grounds the important work in front of us now.”
Fiddelke succeeded Brian Cornell as CEO on Feb. 1, after working at the company for more than two decades. Most recently, he was COO.
“i’ve grown here, learned here and worked alongside teams and partners who care deeply about our guests” he said. “Stepping into this role is both humbling and deeply personal.”
The new CEO said Target’s strategy moving forward is focused on four priorities:
•Leading with merchandising authority by curating with connection (“bringing together design, style and value in a way only Target can);
•Elevating the guest experience (“by making every store visit and digital interaction easier, more inspiring and more welcoming”);
•Accelerating technology to remove friction (“enable our teams and create more personalized, joyful experiences for guests); and
•Strengthening the company’s team and communities ("by investing in our people, building future-ready skills and growing alongside the communities we serve”).
"In the weeks ahead, my focus is simple: listen closely, move with clarity and urgency, and lead with purpose,” Fiddelke wrote. “We will make clear choices, invest where it matters most and bring this strategy to life through our stores, our digital experiences, and — most importantly ‚ our people."
Target first announced its leadership change in August.
“Over the last several years, the board has been executing a deliberate and thoughtful CEO succession process, including an extensive external search and assessment of many strong candidates," said Christine Leahy, lead independent director of Target's board of directors, in a statement in August. "It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company's strategy, and reestablish Target's position as a leader in the highly dynamic and fast-moving retail environment. Michael's tenure gives him unmatched enterprise insight and a base of strong team trust."
