Target, Walmart Start February 2026 with New CEOs

Two major retailers are entering a new era after new chief executives took over at the same time.

Target’s stock is down 42 percent over the past five years after a major pandemic-era boost. (Photo: Skinner2398, Wikimedia Commons) 

At Walmart, the US’s largest private-sector employer, John Furner stepped into the CEO role following Doug McMillon’s retirement on Jan. 31 after more than a decade leading the company.

Furner is a longtime Walmart employee who started as an hourly associate in 1993 and later served in various roles in the Sam’s Club division before taking over US operations.

At Target, former COO Michael Fiddelke succeeded Brian Cornell, who stepped down after more than a decade running the company.

Fiddelke faces a series of challenges at the start of his tenure, ranging from flagging sales to a crisis in Minneapolis near Target’s downtown headquarters.

While once considered close big-box rivals, the two retailers’ fortunes have diverged in recent years. Target’s stock is down 42 percent over the past five years after a major pandemic-era boost.

Walmart’s shares are up more than 150 percent over the same period as it has leaned into staples such as groceries, e-commerce, and delivery.

Target’s market capitalization stands near $48 billion, while Walmart’s market value of $970 billion is approaching the $1 trillion mark.