Target CEO acknowledges ‘loss of trust’ with shoppers, Bloomberg reports

Target’s (TGT) new CEO, Michael Fiddelke, said the big-box retailer has lost trust with shoppers and employees and pledged to rebuild that connection, Bloomberg’s Jaewon Kang reports. “We weren’t clear enough about who we are as a company,” Fiddelke told staff on his first town hall, according to a recording viewed by Bloomberg. “When we aren’t clear enough, that confuses people. We didn’t do enough to correct that confusion in the moment.” Target named insider Fiddelke as its new CEO, starting in February, replacing Brian Cornell, as Target looks to address problems ranging from a sales slump to an abrupt pullback from its wide-ranging diversity initiatives.