Walmart and Target — two of the most prominent retailers in the U.S. — have new CEOs as of Sunday.
Target’s former COO Michael Fiddelke has officially taken over the top spot from longtime CEO Brian Cornell, all while the Minnesota-based retailer has faced pressure to speak about U.S. government immigration activities in the state.
“Stepping into this role is both humbling and deeply personal,” Fiddelke said in a company message Monday. “And while we have real work to do, we are clear on who we are, our unique place in retail and in the hearts of our guests.”
The chief executive reiterated some of the top priorities he outlined when news of his appointment came out in August. Among them is regaining merchandising authority, improving the customer experience in stores and online, accelerating technology usage and investing in employees.
“In the weeks ahead, my focus is simple: listen closely, move with clarity and urgency, and lead with purpose,” Fiddelke said in his message. “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.”
The CEO change at Target follows a long period of poor quarterly performance, declining store traffic and consumer backlash to certain DEI-related decisions. A replacement to take on the chief operating officer role from Fiddelke has not been named.
At Walmart Inc., former President and CEO of Walmart’s U.S. business, John Furner, has taken the reins from Doug McMillon. Furner has worked at the company since 1993 and shuffled the executive leadership team earlier this month ahead of formally becoming CEO.
“Over the past 20 years Doug has played so many roles in my life,” Furner said in a LinkedIn post about McMillon’s retirement over the weekend. “We’ve been through great times and tough times, but I’ll remember them all as the best times.”
Furner said he was “committed to carrying forward with the same purpose and responsibility to our associates, customers, members and the communities we serve.”
For both Furner and Fiddelke, their predecessors aren’t going too far.
Cornell will now serve as executive chair of Target’s board of directors for an indeterminate amount of time. Meanwhile, Walmart’s McMillon will remain on the board until June and serve as an adviser to Furner through January 2027.
