Target CEO Brian Cornell is stepping down. His replacement is a company insider who joined as an intern.
1. Target CEO Brian Cornell will step down; Michael Fiddelke will succeed him. 2. Cornell's departure follows a nearly 1% sales drop beating expectations. 3. Fiddelke vows to refocus Target's strategy and improve challenges ahead. 4. Analysts express mixed feelings about Fiddelke's internal appointment. 5. Target's stock fell nearly 10% year-to-date, indicating bearish market sentiment.