New York: Investors are panning Target Corp’s choice of insider Michael Fiddelke as chief executive officer (CEO) on Wednesday, viewing the 20-year company veteran as unlikely to fix the retailer’s myriad issues that have resulted in years of stock-market underperformance.
Fiddelke, 49, won’t start until February next year, when he replaces current CEO Brian Cornell. In his first media call as incoming CEO, Fiddelke said his “number one goal is to get us back to growth.” But investors see that as a tall order.
