Target’s incoming CEO, Michael Fiddelke, is living proof that internships are more than just grabbing coffee for middle managers and doing drudge work—sometimes they can be career catapults.
What started as a summer placement in Target’s finance department two decades ago has turned into the top job: On Feb. 1, the 49-year-old will succeed Brian Cornell as CEO.
While Gen Z have an affinity for job hopping, Fiddelke said he instantly liked the people and the pace at the $44 billion retail giant. He quickly realized he was “built for” operating in its fast-paced environment, and hasn’t looked back since.
Looking back, the incoming CEO admits he probably wouldn’t have guessed he’d still be here today: “As I started my Target career as an intern, I never anticipated or even imagined the path my career would take,” the incoming CEO said of the experience in a recent post on LinkedIn. “Where you start is almost never where you’ll finish.”
Fiddelke’s work ethic was forged long before he set foot in corporate retail, growing up on a small farm in Iowa. His family farmed beef, sheep, corn, and soybeans. After that, they spent time building small businesses, including a liquor store and Super 8 hotels.
He went on to study engineering at the University of Iowa, work as a Deloitte consultant, and earn an MBA from Northwestern.
It was while Fiddelke was in business school, that he landed that fateful summer internship at Target—and the rest is history. Since joining in 2003, he’s worked across merchandising, finance, operations, and HR. Most recently, he’s served as CFO and then COO, roles that gave him a seat at the retailer’s biggest shifts.
The incoming chief tells Gen Z interns to ‘make the most of the moment’
With more than two decades of experience at the retail giant, the multimillionaire incoming chief exec recently shared his advice for Gen Z graduates kickstarting their internships, reflecting on a time when he was navigating his journey in corporate America.
“Be relentlessly curious. Slow down and ask questions. Embrace feedback. And make the most of the moment by making connections at Target and with your fellow interns,” Fiddelke wrote in the same LinkedIn post, just months before Target’s official announcement of his promotion to CEO.
Like many recent graduates toggling their LinkedIn status to “#Opentowork,” Fiddelke reminded Gen Zers that he relates to the pressure of having everything figured out by the time you’re 18.
“Where you start is almost never where you’ll finish. Your career, your passions and even your goals will evolve. Make the best decisions you can with what you know now. Stay flexible and give yourself permission to adjust as you go,” he said when addressing a group of teenagers in his hometown.
Fiddelke also urged Gen Zers to “be kind and curious,” noting that his teams have performed better when doing so. As managers label Gen Z the hardest group to work with, he reminds young workers that being nice to work with can actually help you stand out and succeed.
“In a fast-moving world that often feels divided, kindness is nourishing,” he said.
Fortune has contacted Fiddelke for comment.
These CEOs have climbed the ranks from the bottom up too
Fiddelke isn’t the first CEO to start his career in the bottom ranks. Juvencio Maeztu will become Ikea’s new CEO this November after climbing the company’s corporate ladder for 25 years. The current deputy chief and CFO started off as a store manager in Spain in 2001.
Walmart’s top boss followed a similar path. Doug McMillon started unloading trailers for $6.50 an hour at age 17 in the summer of 1984, before working his way through a string of promotions. Since then, he’s scaled the retail giant’s ranks to become the company’s youngest CEO since its founder, Sam Walton.
Likewise, Pano Christou only started working at Pret because his McDonald’s coworker left the company to join the food chain—intrigued by the very new sandwich shop, he quit his McDonald’s job to join him. “I just thought: this looks like a fun environment to work in—so I joined them at 22,” Christou told Fortune. “The rest is history.” He’s now its CEO and earning millions in the top job.
“I’m in a very different situation now—but I don’t forget that £2.75 ($3.40) an hour was the starting point of my career.”
