Target CEO Brian Cornell is stepping down. His replacement is a company insider who joined as an intern.

Target has announced it will replace longtime CEO Brian Cornell with a company insider who joined as an intern more than 20 years ago. The discount department store chain said Michael Fiddelke, chief operating officer and former chief finance officer, will take over on February 1 next year. He has been with the company since first joining as an intern in 2003. He has worked across merchandising, finance, operations, and human resources, the company said. Cornell has been in charge since 2014. He will become ...