Brian Cornell, the CEO of Goal, will probably be stepping down after 11 years main the large. The corporate is presently embattled by backlash to DEI removing, resulting in slumping gross sales.
In accordance with CNN Enterprise, Cornell will probably be changed by Feb. 1, 2026. Whereas he’s departing from the CEO seat, he’ll stay with the corporate as an government chairman.
Earlier this 12 months, Goal ended DEI applications, which angered buyers as a result of model’s earlier funding in mentioned initiatives.
Goal reported disappointing first-quarter earnings in Could, falling wanting Wall Road expectations and slashing its full-year outlook. The outcomes come amid rising considerations over client backlash tied to the corporate’s retreat from its variety, fairness, and inclusion (DEI) initiatives earlier this 12 months, together with the potential affect of renewed Trump-era tariffs.
On a media name, CEO Brian Cornell and different executives repeatedly declined to verify whether or not rising costs instantly end result from tariffs. “Pricing is a really dynamic a part of our enterprise,” Cornell mentioned, emphasizing that worth changes occur weekly. He added that Goal is exploring methods to melt the affect of value will increase, together with shifting extra sourcing to U.S. suppliers as an alternative of counting on Chinese language imports.
