Brian Cornell to be replaced next year as retailer navigates boycott over its scaling back of DEI initiatives
The CEO of Target is stepping down, as the embattled retail giant seeks to turn around its fortunes amid an ongoing customer boycott over its scaling back of diversity, equity and inclusion (DEI) initiatives.
Brian Cornell will be replaced next year by Michael Fiddelke, Target’s chief operating officer, the company said on Wednesday.
Yay, uplifting post.
i mean. not really. his new position is to have more power within the company. the incoming CEO is the current COO (aka, the member of the board who actually does anything)
this is the illusion of change. imagine you have a deck of cards. you add all the values cards to determine the overall structure of the deck. what happens when you shuffle it?
But sales are down (based on financials). Not as much as I hoped, but they are down. They are down while companies like Walmart and Costco are surging in the triple digits.
At the end of the day I can at least be happy that some executives at target are QQ.
i don’t view sales going to walmart as a win. dollar general, walmart, and kroger are all festering wounds in our communities. however, i do think target losing business to walmart specifically speaks to something: people were going to target because they felt the value proposition was “less evil that wally world” but now it’s “walmart with higher prices for no real reason”.
i think the real question is if local businesses are getting more of our dollars thanks to these actions
It’s the illusion of change because they are scared shitless, rearranging deck chairs to try to appease their investors—who are very much interested in Target “fixing” their falling sales. Jokes on them, though, because customers have found alternative (read: better) places to buy their shit and aren’t going back.