The University of Iowa’s College of Engineering is having its moment in the spotlight because of two of its alumni.
We’ve written about Kelly Ortberg, the Iowa native and former CEO of Rockwell Collins, who is now the CEO of Boeing Corporation — one of the largest aerospace and defense contractors in the world. Mr. Ortberg is a graduate of the UI’s College of Engineering.
Now we’ve learned that Michael Fiddelke, another UI College of Engineering graduate, will become the CEO of Target Corporation, effective Feb. 1, 2026.
Target is a Fortune 50 company and one of the largest mass-market retail companies in the United States, with approximately 2,000 stores across the country and more than 400,000 employees. It has over $100 billion in annual revenue.
Both Mr. Ortberg and Mr. Fiddelke, also a native Iowan, were hired to turn around these two corporate behemoths that have been struggling due to various factors.
According to an Aug. 13, 2025 article in Fortune magazine, foot traffic at Target fell year over year for the sixth consecutive month in July. While the slump began the week after the retailer backtracked on its diversity, equity, and inclusion (DEI) efforts, some analysts say the real culprit is that Target is slipping on retail basics.
Fortunately, Mr. Fiddelke has a strong background with Target since joining the company as an intern in 2003. He has held a variety of leadership positions across the organization, including finance, merchandising, human resources and operations, according to a news release.
As chief operating officer, and previously chief financial officer, he has overseen investments to build and scale the company’s stores, supply chain, digital capabilities and team, which enabled exponential growth across the business. Mr. Fiddelke also spearheaded Target’s enterprise efficiency efforts, enabling the company to improve profitability and to fuel areas of innovation and growth.
“Over the last several years, the board has been executing a deliberate and thoughtful CEO succession process, including an extensive external search and assessment of many strong candidates,” Christine Leahy, lead independent director of Target’s Board of Directors, said in a press release.
“It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company’s strategy, and reestablish Target’s position as a leader in the highly dynamic and fast-moving retail environment,” she added. “Michael’s tenure gives him unmatched enterprise insight and a base of strong team trust. But what sets him apart is how he combines those strengths with a ‘fresh eyes’ mindset, challenging the status quo to evolve how the business operates, differentiates and delivers long-term value.”
Mr. Ortberg is already gaining fans and increased share prices since taking over as Boeing CEO on Aug. 8, 2024. Mr. Fiddelke has his work cut out for him. The stock is down nearly 40% over the past year while the S&P 500 is up over 16%. We wish Mr. Fiddelke the best and hope that his success will also reflect positively on the University of Iowa.
