Target Corporation
08/20/2025 | Press release | Distributed by Public on 08/20/2025 04:43
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 15, 2025, following a comprehensive succession planning process, the Board of Directors (the "Board") of Target Corporation ("Target"), appointed Michael J. Fiddelke, Target's current Executive Vice President and Chief Operating Officer, as Target's next Chief Executive Officer and a member of the Board, effective February 1, 2026. At that time, Brian C. Cornell will step down from his position as Chief Executive Officer and will continue to serve as Chair of the Board in an Executive Chair capacity.
Mr. Fiddelke, 49, has been employed by Target since 2004, most recently as Executive Vice President and Chief Operating Officer (February 2024 to present) and Executive Vice President and Chief Financial Officer (November 2019 to September 2024).
The material terms of the compensation arrangements for Mr. Cornell and Mr. Fiddelke related to these transitions will be disclosed once they have been approved.
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