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Why is Target CEO quitting?

Asked 19 hours ago

Answer

Target CEO Brian Cornell is quitting due to a combination of declining sales, a significant drop in profits and stock value, and backlash from a nationwide boycott over the rollback of diversity, equity, and inclusion policies. Operational issues and increased competition also contributed to his departure.

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CNN

Pastor who led DEI boycott against Target speaks after CEO steps down

CNN · Recent
CNN
CNN
Recent
  • Target CEO Brian Cornell announced his resignation after 11 years. 20s
  • A boycott led by Pastor Jamal Bryant over DE&I policy rollbacks contributed to the decision. 29s
  • The boycott resulted in decreased foot traffic and a drop in Target's stock price and valuation. 35s
  • Cornell will stay on as executive chairman while a 22-year Target veteran becomes CEO. 1m 23s
  • Pastor Bryant is skeptical about significant changes under the new CEO but is open to dialogue. 1m 47s
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References

Pastor who led DEI boycott against Target speaks after CEO steps down
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CNN
20 hours ago
Pastor who led DEI boycott against Target speaks after CEO steps down

Target CEO Brian Cornell announced he is stepping down after 11 years on the job, following a crippling boycott led by Reverend Jamal Bryant over the company's DE&I policy rollbacks.

Target CEO to step down after declining sales and profits
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CBS America
21 hours ago
Target CEO to step down after declining sales and profits

After months of missing the bullseye on sales, the CEO of Target is headed for the exit. The swap at the top comes after 11 straight quarters of declining or slowing sales. Profits have dropped nearly 20% compared to last year.

Why customers turned away from Target
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CNN
1 day ago
Why customers turned away from Target

A boycott by many of Target's core customers, who were upset after the company rolled back their DEI initiatives, contributed to the CEO's exit.

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