Target Promotes Intern to CEO After 20-Year Rise Underlines Value of Internal Growth

Target’s incoming CEO, Michael Fiddelke, rose from an intern in the company’s finance department to the top executive role over a 20-year period, a rare example of internal advancement at the $44 billion retail giant. Set to assume the CEO position on February 1, Fiddelke succeeds Brian Cornell, marking the culmination of a career defined by steady progression through key departments, including merchandising, finance, operations, and human resources. His journey began with a summer internship in 2003 while he was a business school student at Northwestern University [1].

Fiddelke’s career path stands in contrast to the trend of frequent job changes among younger workers, particularly Gen Z. Despite the prevailing culture of flexibility and short-term employment, he has remained with Target for over two decades. Reflecting on his early experiences, he emphasized his immediate appreciation for the company’s fast-paced environment and the people he worked with. “Where you start is almost never where you’ll finish,” he noted in a recent LinkedIn post, encouraging Gen Z professionals to approach their careers with curiosity and adaptability [1].

His message to young professionals centers around the importance of embracing feedback as a tool for growth. In a post addressed to recent graduates and interns, Fiddelke advised them to “slow down and ask questions,” remain “relentlessly curious,” and “make the most of the moment by making connections.” He also urged them to “be kind and curious,” highlighting how these traits have helped his teams perform better in a fast-moving corporate world [1]. This approach challenges the perception that Gen Z is difficult to work with, suggesting instead that kindness and a willingness to learn can set individuals apart in a competitive job market.

Fiddelke’s rise reflects a broader trend of long-term loyalty in leadership roles, a model that has become increasingly rare in the retail sector. His background on a small Iowa farm and his early ventures in building small businesses, including a liquor store and hotel chain, instilled in him a strong work ethic that has carried through his corporate career. After earning an MBA from Northwestern, he joined Target, where he steadily climbed the ranks, eventually serving as CFO and COO before his promotion to CEO [1].

His leadership style and career path offer a compelling case study for companies considering the value of internal talent development. In an era where many corporations favor external hires for executive roles, Target’s decision to promote from within signals a commitment to cultivating long-term leaders. Fiddelke’s deep institutional knowledge and experience with major organizational shifts will be critical as the company navigates ongoing challenges in retail, including evolving consumer preferences and supply chain complexities [1].

As Gen Z continues to shape the future of work, Fiddelke’s career serves as both inspiration and guidance. His emphasis on staying open to feedback and maintaining flexibility aligns with the values of a generation seeking meaningful, growth-oriented careers. His journey from intern to CEO is not just a personal success story but a reminder that persistence and a willingness to adapt can lead to significant opportunities. For young professionals looking to build long-term careers, Fiddelke’s message is clear: where you begin does not define where you end. [1]

Source: [1] Target's incoming CEO started as an intern at the $44 billion retail giant 20 years ago—he advises Gen Z who want to copy him to ’embrace feedback’ (https://fortune.com/2025/08/20/targets-incoming-ceo-started-as-an-intern-20-years-ago-career-advise-for-gen-z-who-want-to-copy/)