Dive Brief:
- Target announced former chief innovation officer at Nike Inc., John Hoke, will join the board of directors in March, per a Thursday press release. The Nike veteran — who last year announced his retirement from the athletics company — will serve on Target’s governance and sustainability committee, as well as the compensation and human capital management committee.
- Former CEO of HanesBrands, Steve Bratspies, will also join Target’s board starting in April, serving on the audit and risk as well as the infrastructure and finance committees.
- Hoke and Bratspies earn an annual compensation Target provides to all non-employee directors. The company’s 2025 proxy statement outlines non-employee directors can receive a mix of cash and restricted stock units, or just the stock units.
Dive Insight:
Target’s Chief Operating Officer Michael Fiddelke will become CEO next month and the retailer’s new board members play into his broader turnaorund efforts.
Hoke and Bratspies’ appointments “reflect Target's focus on delivering style, design and value through products and experiences grounded in a deep understanding of consumers,” per the company’s press release. Fiddelke has set out to reinvigorate Target’s merchandising authority following a period of slumping sales, store traffic and consumer backlash.
"These appointments underscore the Board's continued commitment to strong governance and long-term value creation for shareholders," Christine Leahy, lead independent director of Target's Board of Directors, said in a statement. "John and Steve bring extensive experience that aligns closely with the Board's priorities as we oversee Target's strategy, welcome Michael Fiddelke as CEO and guide the company into its next chapter of growth."
Hoke brings a plethora of design experience from Nike, where he worked for about 30 years. He served as the athletics brand’s first chief design officer before taking on the chief innovation officer position. When his departure was announced in 2025, Nike CEO Elliott Hill remarked on how Hoke’s work helped to establish Nike’s designs.
Target’s third quarter released in November showed net sales declined 1.5% year over year to $25.3 billion. Meanwhile, comparable sales dropped 2.7% and merchandise sales decreased 1.9%.
