Target has changed its leadership. CEO Cornell will officially leave next month, and 20-year veteran Fidelke will take over—contract expiry + financial report plummeted (profit fell by 21%), this change has been apparent for a long time.
The problem is that Wall Street is not buying it. The stock price fell 10% in response, as Fidelke is purely an internal promotion. Analysts were originally expecting a "disruptor" to bring about change, but instead, they got a conservative strategy. The new CEO's task is to cut costs, improve efficiency, and maintain existing projects—there's nothing new.
Cornell was parachuted in from PepsiCo back in the day, promoting online fulfillment, same-day delivery, and curbside pickup, which paid off during the pandemic. Now it's Fidelke's turn to take over the mess, and the market clearly doesn't view this conservative choice favorably. Retail investors might as well wait and see for now.
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Target has changed its leadership. CEO Cornell will officially leave next month, and 20-year veteran Fidelke will take over—contract expiry + financial report plummeted (profit fell by 21%), this change has been apparent for a long time.
The problem is that Wall Street is not buying it. The stock price fell 10% in response, as Fidelke is purely an internal promotion. Analysts were originally expecting a "disruptor" to bring about change, but instead, they got a conservative strategy. The new CEO's task is to cut costs, improve efficiency, and maintain existing projects—there's nothing new.
Cornell was parachuted in from PepsiCo back in the day, promoting online fulfillment, same-day delivery, and curbside pickup, which paid off during the pandemic. Now it's Fidelke's turn to take over the mess, and the market clearly doesn't view this conservative choice favorably. Retail investors might as well wait and see for now.