Target Corp. is entering one of the most critical chapters in its history, with long-serving insider Michael Fiddelke confirmed to take over as chief executive on Feb. 1 next year.

Target CEO Brian Cornell, who helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic, plans to step down Feb. 1.

Target's new CEO, Michael Fiddelke, is stepping into leadership amid scrutiny over the company's direction on diversity, equity and inclusion (DEI).