Target’s new CEO, Michael Fiddelke, told employees in Minneapolis on Feb. 4, 2026, that he plans to rebuild customer and employee trust after the retailer’s pullback from DEI triggered backlash. Reporting from Bloomberg News shows Fiddelke used his first town hall to concede that Target “lost” trust and that leadership failed to communicate clearly in the moment. CNN reports that the credibility gap was tied to the dismantling of DEI commitments, including a program that helped Black-owned businesses secure shelf placement, plus the removal of minority hiring goals and the