Target CEO Brian Cornell steps down
Digest more
Target Picks Insider
Digest more
Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.
Target named an insider as its next chief executive officer Wednesday, a decision that comes as the discount retailer tries to reverse a persistent sales malaise and to revive its reputation as the place to go for affordable but stylish products.
The Minneapolis-based retailer certainly has challenges now, but looking back, it’s clear Target was in a make-or-break moment when Brian Cornell took charge 11 years ago.
The Warby Parker at Target shop-in-shop will offer products and services — including glasses, sunglasses, contacts, eye exams and vision tests. The shops will be staffed by Warby Parker employees. A shop at 201 Sunrise Blvd. in West Whiteland Township, Chester County, near Exton will open on Aug. 30.
Target promoted insider Michael Fiddelke on Wednesday as its new CEO to turn around the struggling retailer after a series of challenges over recent years that caused its shares to vastly lag those of its peers.