Target’s CEO Succession Strategy: 7 Best Practices HR Leaders Should Replicate
On Feb. 1, 2026, Michael Fiddelke will become Target’s next CEO after more than two decades with the company — a rise that began as a finance intern and expanded into leadership roles across finance, merchandising, operations, and human resources.1
Target’s CEO transition has unfolded in a tumultuous environment: volatile performance, culture conflict, and even organized calls to boycott the large retailer during the holiday season.2,3,4 That makes it a useful case study for HR and executives in mid-sized to large-size organizations — not because Target is without flaws, but because it shows what a resilient succession plan looks like when an organization is under pressure.
Below are some of Target’s succession planning best practices worth imitating, as well as guidance for how to apply them quickly through a structured process.
1. They announced their CEO successor early — and created runway
Target announced Fiddelke as the next CEO in August of 2025, giving months of runway before the formal start date.5 That runway matters. It allows for:
- Intentional stakeholder communications
- An orderly transition of decision-making responsibility
- Clearer accountability for near-term performance
This is consistent with what Harvard Business Review (HBR) emphasizes: leadership pipelines don’t “happen” — executives design them and reinforce them.6
2. They treated “potential” as role-specific, not a vague label
One of the most useful talent management philosophies is simple: don’t ask if someone has potential, instead, ask what they have potential for.7
Target’s succession story supports that mantra. Fiddelke’s path wasn’t a generic “high potential” ascendency. He moved through the organizationacross roles and departments and demonstrated cross-functional competence throughout his rise — from finance to operations to people leadership.8
For HR leaders, this is a reminder to define potential against the specific demands of the next role, such as complexity, scope, and culture leadership, not against past performance alone.
3. They built a leadership bench through stretch assignments, not just training
Programs help, but experiences make leaders — especially stretch assignments that push individuals into unfamiliar territory.
Target’s track record repeatedly highlights this “develop by doing” approach:
- Fiddelke moved across business areas over the course of a career that has spanned more than 20 years.
- Target spotlit another leader, Abubakarr Bangura, who progressed from intern to group vice president while assuming roles across teams and locations.9
- Target invested in structured leadership experiences, such as a six-month Store Director Development Program, with immersive workshops and peer collaboration.10
That combination — rotations, cross-enterprise exposure, and structured experiences — is how organizations create “ready now” leaders instead of hoping they surface organically.
4. They made development central to how they work, not an HR side project
Target repeatedly ties its growth to culture and development — listening, investing in people, and co-creating leadership programs with the people who rely on them.11
One notable example: Target learned store directors wanted a tailored development program, then co-created an immersive six-month experience. Target reported strong participant sentiment and performance self-reports, and planned to scale participation across the organization.12
Target understands that development fails when it becomes siloed or optional. Organizations benefit from improved outcomes when leaders treat development as a cultural pillar and embed it into expectations and incentives.
5. They reinforced the process from the top — loudly
Succession planning falls apart when executives treat it as a box to be checked. Conversely, when executives devote their own time, credibility, and energy to the process, they create the conditions for these systems to flourish.13
Target’s executive messaging has been public and direct. Outgoing CEO Brian Cornell publicly endorsed Fiddelke’s fit and leadership attributes, while positioning him as the driver of faster innovation and performance acceleration.14 Business coverage also noted Cornell’s stated intent to support the transition.15
6. They chose continuity — even as outsiders questioned it
Initially, Target’s CEO succession plan did not land universally well.
Fortune, a global business magazine, contrasted Target’s succession with Walmart’s and noted that some analysts preferred an outside hire to “shake things up,” while Target “doubled down” on insiders.16 Business Insider similarly reported skepticism about an internal selection and raised questions about governance dynamics.17
That doesn’t necessarily mean Target made the wrong decision. But it does spotlight a critical succession principle: Succession isn’t just about naming a leader. It’s also about proving the process.
Target did not treat its CEO succession as a simple announcement. It built a public case for why Fiddelke was the right choice: a long, cross-functional track record combined with enterprise-wide responsibilities and operational scope. They also provided him with meaningful visibility to stakeholders by having him lead an earnings call and outline near-term priorities.18
This is what “proving the process” looks like in practice. When choosing continuity, organizations should not rely on tenure or familiarity. Instead, they should be transparent about the criteria, communicate the evidence, and demonstrate that the successor is capable of assuming the role. This way stakeholders can see the decision is disciplined, not comfortable.
7. They scaled leadership development into infrastructure, not a program
Target’s CEO succession story is part of a broader, companywide development system that is designed to produce leaders at scale. Target highlights large-scale investments in upskilling and education, including its tuition-free “Dream to Be” program, a robust internal learning library, structured mentorship, and formal leadership development programs.19 These efforts are reinforced by how Target describes its culture: leaders spend significant time listening to frontline teams, and Target co-created a six-month development experience with store directors, then planned to scale it across the organization.10
This is a best practice many organizations miss. Succession planning works better when it is supported by an always-on development engine that builds leadership bench strength continuously — not a one-time exercise when a departure becomes imminent.11
What HR Leaders Can Learn From Target
For succession planning in a mid-sized to large organization, the takeaway is this: Target did not treat succession as a single decision. It treated succession as a structured process — built over years — and then made it visible.
Here’s a practical succession planning best practice checklist that can be implemented immediately:
- Define potential. Create role-specific success profiles and measurable readiness criteria.
- Utilize stretch assignments, not just training. Use rotations, enterprise projects, and pressure tests.
- Embed accountability. Make talent development a standing leadership responsibility, not just an HR initiative.
- Sponsor from the top. Share responsibility with the CEO and senior leadership team for leadership bench strength.
- Communicate to stakeholders. Outline the process behind the successor choice to earn stakeholder trust.
- Build development infrastructure. Invest in on-demand learning, mentorship, and leadership programming that strengthens bench depth over time — not only when a transition becomes imminent.
Download SIGMA’s Free Succession Planning Guide
Target had years to build its bench. Most organizations don’t have that luxury — or the calendar space to undertake a long, drawn-out succession exercise.
To get the succession planning process started quickly, download SIGMA’s Succession Planning Guide. It provides a step-by-step overview of the process and includes practical tools to help move from intention to execution, including:
- The difference between succession planning and replacement hiring
- A clear outline of SIGMA’s six-step succession planning process
- Form-fillable templates to organize and document the succession plan
- A 30-day roadmap and a detailed succession planning checklist
- Guidance for measuring progress using key success metrics
Download the Succession Planning Guide to begin building a structured, repeatable approach to leadership continuity.
Looking for Expert Support to Put a Succession Plan in Place?
Need help getting your succession plan off the ground? SIGMA’s science-based, full-service approach to executive succession planning can help you develop strong internal candidates and execute smooth transitions at every level of leadership. Complete the contact form below and a member of our team will be in touch to learn about your organization’s needs, discuss your goals, and outline next steps to begin building a strong leadership pipeline at your organization.
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1 Target Corporation. (2025). Target appoints Michael Fiddelke as chief executive officer. https://corporate.target.com/press/release/2025/08/target-appoints-michael-fiddelke-as-chief-executive-officer
2 Wahba, P. (2025). Walmart and Target are both getting new CEOs — one succession plan has gone smoother than the other. Fortune. https://fortune.com/2025/11/20/walmart-ceo-target-ceo-succession-planning/
3 Lutz, A. (2025). Target spotlights support for Black founders after DEI backlash. Fortune. https://fortune.com/2025/10/24/target-support-black-founders-dei-backlash-boycott-sales-tgt-stock-selloff/
4 IndyStar. (2025). Why are people boycotting Target, Amazon this Black Friday? https://www.indystar.com/story/news/2025/11/24/target-boycott-why-amazon-home-depot-thanksgiving-black-friday-cyber-monday-2025-we-aint-buying-it/87450542007/
5 Target Corporation. (2025). Target appoints Michael Fiddelke as chief executive officer. https://corporate.target.com/press/release/2025/08/target-appoints-michael-fiddelke-as-chief-executive-officer
6 DuRose, R. (2025). Building your organization’s next generation of leaders: An executive’s guide on developing the talent who will secure your company’s success. Harvard Business Review. https://hbr.org/2025/08/building-your-organizations-next-generation-of-leaders
7 DuRose, R. (2025). Building your organization’s next generation of leaders: An executive’s guide on developing the talent who will secure your company’s success. Harvard Business Review. https://hbr.org/2025/08/building-your-organizations-next-generation-of-leaders
8 Target Corporation. (2025). Getting to know Target’s next CEO, Michael Fiddelke. https://corporate.target.com/news-features/article/2025/08/michael-fiddelke-ceo
9 Soltes, F. (2025). How Target’s people-first culture and leadership programs are driving success. National Retail Federation. https://nrf.com/blog/how-targets-people-first-culture-leadership-programs-are-driving-success
10 Target Corporation. (2025). Grow with Target. https://corporate.target.com/careers/growth-and-development
11 Soltes, F. (2025). How Target’s people-first culture and leadership programs are driving success. National Retail Federation. https://nrf.com/blog/how-targets-people-first-culture-leadership-programs-are-driving-success
12 Soltes, F. (2025). How Target’s people-first culture and leadership programs are driving success. National Retail Federation. https://nrf.com/blog/how-targets-people-first-culture-leadership-programs-are-driving-success
13 DuRose, R. (2025). Building your organization’s next generation of leaders: An executive’s guide on developing the talent who will secure your company’s success. Harvard Business Review. https://hbr.org/2025/08/building-your-organizations-next-generation-of-leaders
14 Target Corporation. (2025). Getting to know Target’s next CEO, Michael Fiddelke. https://corporate.target.com/news-features/article/2025/08/michael-fiddelke-ceo
15 Redmond, N., & Reuter, D. (2025). Meet Target’s incoming CEO, who worked his way up after starting as a finance intern. Business Insider. https://www.businessinsider.com/targets-new-ceo-michael-fiddelke-former-intern-brian-cornell-2025-8
16 Wahba, P. (2025. Walmart and Target are both getting new CEOs — one succession plan has gone smoother than the other. Fortune. https://fortune.com/2025/11/20/walmart-ceo-target-ceo-succession-planning/
17 Redmond, N., & Reuter, D. (2025). Meet Target’s incoming CEO, who worked his way up after starting as a finance intern. Business Insider. https://www.businessinsider.com/targets-new-ceo-michael-fiddelke-former-intern-brian-cornell-2025-8
18 Redmond, N., & Reuter, D. (2025). Meet Target’s incoming CEO, who worked his way up after starting as a finance intern. Business Insider. https://www.businessinsider.com/targets-new-ceo-michael-fiddelke-former-intern-brian-cornell-2025-8
19 Target Corporation. (2025). Grow with Target. https://corporate.target.com/careers/growth-and-development
20 Target Corporation. (2025). Grow with Target. https://corporate.target.com/careers/growth-and-development
21 Soltes, F. (2025). How Target’s people-first culture and leadership programs are driving success. National Retail Federation. https://nrf.com/blog/how-targets-people-first-culture-leadership-programs-are-driving-success