On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.

The company's current COO, Fiddelke believes that "being unapologetically and unmistakably Target" will help get the Minneapolis-based retailer back on track.

Shares of Nasdaq listed Target Corporation plunged 11% in opening trade hitting a low of $94.15 after the company said that its board has unanimously elected Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as Chief Executive Officer and become a member of its Board of Directors.