Target Corporation has announced new compensation terms for its executive leadership as part of a management transition effective February 1, 2026. Former CEO Brian C. Cornell will step down and serve as Executive Chair of the Board, receiving an annual base salary of $1.12 million, eligibility for a fiscal 2026 cash incentive with a target opportunity of 200% of base salary, and a $6 million restricted stock unit award in March 2026. Michael J. Fiddelke, appointed as the new CEO, will receive an annual base salary of $1.30 million, a target annual cash incentive of 200% of base salary, and stock-based awards valued at $12.1 million, to be granted in March 2026. Both executives will receive additional benefits in line with Target’s leadership team policies.

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