Fiddelke, an Iowa native and University of Iowa graduate, has been with Target since 2003, starting as an intern. Investors reacted negatively to the appointment, causing Target's shares to drop over 6%. An Iowa native and University of Iowa graduate will be the new top executive of Target, one of the nation's largest retail chains.

“The stock price reflects that there won’t be change when change is needed,” Gerald Storch, former vice chairman of Target and ex-CEO of Toys R Us, told The Post. “The sales are negative and they are bleeding market share.” Target did not immediately respond to The Post’s request for comment.

Target on Wednesday named a new chief executive, Michael Fiddelke, the company’s chief operating officer and a 20-year company veteran, who said that improving the retail giant’s sputtering finances was “urgent” as he prepared to step into the top job.

Target promoted insider Michael Fiddelke on Wednesday as its new CEO to turn around the struggling retailer after a series of challenges over recent years that caused its shares to vastly lag those of its peers.

Michael Fiddelke joined Target as an intern while studying for an MBA. He's since worked in merchandising, finance, operations, and human resources.

Target has been cutting costs to cope with tariffs, a sign of the tough conditions its next chief will have to navigate.