“The stock price reflects that there won’t be change when change is needed,” Gerald Storch, former vice chairman of Target and ex-CEO of Toys R Us, told The Post. “The sales are negative and they are bleeding market share.” Target did not immediately respond to The Post’s request for comment.

Target announced that Michael Fiddelke, chief operating officer, will become the next CEO on Wednesday. File Photo by UPI/Brian Kersey Aug. 20 (UPI) --Target on Wednesday announced that Cheif Operating Officer Michael Fiddelke will be the company's next cheif executive officer.

Target on Wednesday named a new chief executive, Michael Fiddelke, the company’s chief operating officer and a 20-year company veteran, who said that improving the retail giant’s sputtering finances was “urgent” as he prepared to step into the top job.

Michael Fiddelke will become Target's new CEO in February 2026, completing a remarkable 22-year journey from company intern to chief executive.

Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.

Target has been cutting costs to cope with tariffs, a sign of the tough conditions its next chief will have to navigate.