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Target's new CEO is thrown into crisis mode on day one [Yahoo! Finance]
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He must deal with declining sales and civil unrest in Minneapolis, the city where Target is based. The company's outgoing CEO will stay on as executive chairman, raising questions about how much change is possible. Target's new CEO won't get a honeymoon period. Michael Fiddelke, the company's chief operating officer who started as a finance intern, is taking over at a moment when the retailer is under pressure on nearly every front, grappling with a weakening business, political backlash, and growing employee strain. Fiddelke, who officially takes the helm this weekend, will have to contend with 10 of the past 12 quarters having flat or declining comparable sales, as civil unrest unfolds in Minneapolis, where Target is headquartered. Target's stock is down more than 25% in the past year. Peter Schwartz, a CEO coach of 20 years, told Business Insider that Fiddelke is facing a classic leadership paradox. He must balance sensitivity to a politically and socially charged moment
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