North America CNN
Target CEO Brian Cornell Stepping Down Amid Sales Slump and Diversity Backlash
Target CEO Brian Cornell is stepping down after 11 years as the company faces continued slumping sales and backlash over its approach to diversity, equity, and inclusion.
Target CEO Brian Cornell is stepping down after 11 years, as the company faces continued sales declines and backlash over its shift away from diversity, equity, and inclusion initiatives amid his departure. The move comes despite expectations that Cornell's retirement was imminent. Target's stock price has dropped significantly in recent months due to declining sales and increased competition from e-commerce giants. A replacement for Cornell is expected to be named soon.
Brief written with AI from reporting by CNN. All rights to the original story belong to the publisher.