(Reuters) -Target named longtime company veteran Michael Fiddelke as its CEO, replacing retail industry bigwig Brian Cornell, effective February 1, 2026.

The leadership change comes as inflation and uncertainty from U.S. tariffs raise concerns over consumer spending, particularly for Target's discretionary products such as apparel and electronics.

With the appointment of Fiddelke, Target is also back to picking names from within the company for the top job. Cornell was the first outsider to have been named CEO.

Here are a few facts about the latest CEO of one of the top U.S. retailers:

Target veteran

Fiddelke joined Target in 2003 as an intern and rose through the ranks to hold key positions in finance, merchandising, human resources and operations. He is now the operations head and was finance chief from late 2019 to February 2024.

Early career and education

He worked for three years at Deloitte Consulting LLP before joining Target and holds a degree in industrial engineering from the University of Iowa and an MBA in finance from the Kellogg School of Management.

As COO of Target

As the operations head, he oversaw nearly 2,000 stores, the global supply chain, fulfillment services and enterprise operations. Fiddelke also led a $2 billion efficiency drive to reshape Target's operations through technology, same-day delivery and digital services.

His elevation comes as Target grapples with competition from Amazon and Walmart, as well as internal issues such as inventory management, merchandise missteps and retail crime.

Plans as CEO

Fiddelke said Target needs to "to move faster, much faster", as he works to improve the quality of merchandise, value and style that Target offers, ensure a more consistent shopper experience and to embed more technology in all its businesses.

(Reporting by Juveria Tabassum in Bengaluru; Editing by Arun Koyyur)