The names of the targeted names Michael Vidlek, succeeding CEO Brian Cornell

goal Declare On Wednesday, the chief operational employee Michael Vidlek will become the next CEO, as the besieged retail seller progresses for transformation to revive growth and vice versa sliding sales.

Brian Cornell, who is stepped down after more than a decade at the head of the Munyabolis retailer, will succeed him.

The company said on Wednesday that its council was unanimously elected Vidlk, 49, to succeed Cornell and join the board of directors on February 1.

The news comes at a time when Cornell, 66, concludes the three -year commitment he suffered in 2022 to remain the CEO. That year, the 65 -year -old Target’s council canceled, allowing it to stay during a pivotal period of the company because it works to revive traffic and growth.

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Over the past twenty years in Target, Fiddelke has been credited with an effective role in building many basic strengths of the company, and holding leadership roles through trade, financing, operations and human resources. In his current position, Target said that Fiddelke has supervised the efforts that enabled Si growth throughout business, including investments to build and expand the company’s stores, supply chain, digital capabilities and team. He also led the efforts of the institutions to provide more than two billion dollars in efficiency.

“It is clear that Michael is the appropriate pioneer in restoring the goal to grow, re -concentrate and accelerate the company’s strategy, and re -establish Target as a leader in the very dynamic retail environment,” said Christine Lesi, the independent director of the Target Board of Directors.

Lesi said that the Fiddelke’s work period gives him an unparalleled institutional vision and the basis of the strong confidence of the team, noting that “what distinguishes it is how it combines this force with the mentality of” new eyes “, and challenges the current situation to develop how works work and distinguish and provide a long -term value.”

The target sales declined amid the tariff war, Dei changed a violent reaction

In the last quarter of financial money, the company has reported sales of $ 25.2 billion, a little decrease from 1 % from last year. The company blamed shoppers who retreat from goods, although this was partially balanced through stronger sales, such as services. Sales in stores open at least at least 2 %, with sales in the store drop by more than 3 %. Online sales, however, grew slightly over 4 %. In general, the profit for a quarter was $ 1.3 billion, which decreased about 19 % from last year.

The company has already warned earlier this year that there will be profit pressure throughout the year in the first quarter for the remainder of the year, in part due to the uncertainty in the customs tariff.

To try to return to profitable growth in the long term, the company announced in May that it has developed a new multi -year growth initiative, called the Office of Institutions, and has made changes to its executive wing.

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Cornell said that the Foundation’s acceleration office initiative will specifically help the company to operate more clearly, “creating conditions for speed and ability to adapt, innovation and flexibility.”

index	protection	last	Changing	% Change
TGT	Target corp.	98.69	-6.69	-6.35 %

The goal maintains its expectation of low numbers in sales in 2025, decreasing from its previous forecast for the growth of sales of about 1 %. It expects that approximately $ 7 to $ 9 for the fiscal year 2025 will range from its previous expectations from 8.80 dollars to $ 9.80.