Two of the nation’s largest retailers, Target and Walmart, began February with new chief executive officers, marking notable leadership transitions at both companies.
At Target, former chief operating officer Michael Fiddelke officially succeeded longtime CEO Brian Cornell. In messages to employees, Fiddelke emphasized continuity alongside change, highlighting priorities such as restoring merchandising authority, improving in-store and digital customer experiences, expanding the use of technology, and continuing to invest in employees. He also underscored the importance of listening closely and moving with clarity as the company works through recent performance challenges, including declining store traffic and mixed consumer response to past corporate decisions. Target has not yet named a successor to fill the chief operating officer role.
Walmart also welcomed a new CEO, with John Furner taking over leadership from Doug McMillon. Furner has spent more than three decades at Walmart and previously led the company’s U.S. business. In public remarks, Furner recognized McMillon’s influence and expressed a commitment to maintaining the company’s focus on associates, customers, members, and the communities it serves. Ahead of the transition, Furner made adjustments to the executive leadership team.
Both companies are retaining continuity at the board level. Cornell will remain as executive chair of Target’s board, while McMillon will stay on Walmart’s board through June and serve as an adviser to Furner into early 2027.
For the retail industry, the leadership changes reflect a period of transition as major chains respond to shifting consumer expectations, operational pressures, and evolving market conditions. WR will continue monitoring how these changes may influence broader retail trends.
