Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Target reported stronger-than-expected second-quarter earnings Wednesday, but that may not matter much to investors, who finally know who the retailer’s next chief executive is going to be. Target announced that longtime veteran and current Chief Operating Officer Michael Fiddelke will succeed CEO Brian Cornell on Feb.

Target, which has about 1,980 U.S. stores, has been the focus of consumer boycotts since late January, when it joined rival Walmart and a number of other prominent American brands in scaling back corporate diversity, equity and inclusion initiatives.

Target Corp. and its board of directors has elected Michael Fiddelke, chief operating officer, to succeed Brian Cornell as CEO.

On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.