Target’s New CEO Clears House Two Weeks Into Turnaround Battle
When your sales have been flatlining for four years, waiting isn’t a strategy. Less than two weeks into the job, Target’sTGT new CEO Michael Fiddelke is already showing veteran executives the door — his first major move to fix the operational mess. The shake-up signals urgency amid intensifying price pressure, store complaints, and even political backlash.
- Cara Sylvester consolidates power as the sole chief merchant, ending Target’s split merchandising structure — while the retailer cuts 500 distribution and office jobs to redirect funds.
- The retailer is investing in store staffing and training, introducing a “10-4” policy requiring friendlier employees, though customers already find it uncomfortable, and staff call it forced.
The harder part: Fiddelke says the reshuffle enables “greater speed” in decision-making, and he needs all the help he can get. Target’s ~2K stores face complaints about disorganized aisles, inventory gaps, and understaffing at registers, while employees juggle in-person shopping with fulfillment center duties. The retailer lost its “Tarzhay” edge on trendy merchandise just as consumers pulled back on discretionary spending. With this many challenges ahead, analysts remain skeptical that a 20-year insider can deliver the fresh thinking this firm needs to fight WalmartWMT, CostcoCOST, and AmazonAMZN.