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Target’s incoming CEO started as an intern at the $44 billion retail giant 20 years ago—he advises Gen Z who want to copy him to ’embrace feedback’

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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.” 

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.



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AI’s reliance on patterns can lead to ‘mediocre’ results, warns CEO of design consultancy IDEO

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Can AI be used to generate original work rather than mere “slop”? That’s the question facing many designers who both hope to leverage AI’s power to generate and refine new ideas quickly, and worry about their ability to compete with a flood of AI-generated, yet subpar, content.

Yet Mike Peng, the CEO of design consultancy IDEO, thinks that human creativity, enhanced by AI, could be the path forward for designers. 

AI’s pattern recognition capability can make it an incredibly powerful tool, noted Peng at Fortune Brainstorm Design in Macau on Dec. 2. But its reliance on averages can lead to “somewhat mediocre” results, he warned.

“Creativity is all about not being mediocre and being on the edge,” he added.

Similarly, AI is excellent at iteration, but only creativity can determine where to apply those iterated ideas. “This comes from taste, curation, discernment—you need to know where to look,” Peng advised.

And while AI might outperform humans in terms of execution, or how to get from “point A to point B,” bringing it to life requires creativity and empathy, which Peng said “can only be done by folks like us.”

So how best to inculcate a creative mindset and unlock the power of AI? “The only way we can get better at it—and the only way we as creative people, as designers, can become superpowered—is to be able to experiment” Peng said.

Playfulness, curiosity and experimentation, along with human-centered design are, hallmarks of IDEO, the world-renowned global design and innovation consultancy founded in Palo Alto in 1991. Peng took over as IDEO’s CEO earlier this year, after spending five years as CEO of Moon Creative Lab, a venture studio affiliated with Japan’s Mitsui.

“There is no play without friction,” Peng noted. “Play is about overcoming something, achieving something.” That’s counter to companies often trying to make their products and services faster and easier to use. To avoid mediocrity, “we have to play, we have to experiment, we have to be on the edge” with new technology, he said.

IDEO, he notes, is “in the business of creating something that AI cannot exactly do on its own.” Yet, for him, the human superpower remains understanding human complexity and interactions.

After all, Peng urged, creatives and designers will “be the ones to bring this experience to life.”



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David Ellison’s billionaire dad got him a plane at 13. He flew in airshows then went to Hollywood

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David Ellison’s ascent to the summit of Hollywood power traces an unconventional flight path. At 13, the Oracle founder’s son received an extraordinary gift from his father: his own airplane. By 17, he was performing aerial acrobatics in professional airshows. Two decades later, he has traded the cockpit for the boardroom, steering his company through a $8 billion merger that placed him atop Paramount, with hopes of adding Warner Bros. to his trophy case.

The aviation obsession began early. After watching Top Gun as a child, David Ellison became fixated on flying. His billionaire father, Larry Ellison, purchased a plane for him at age 13, and they took lessons together. By 16, he was flying a high-performance German aerobatic aircraft capable of rolling 360 degrees in under a second. Wayne Handley, a pilot who worked with the family, told Variety that to “pry this airplane out of David’s hands, Larry bought him a top-of-the-line aerobatic airplane out of Germany, the Extra 300.”​

David Ellison soloed on his 16th birthday and began competing in airshows at 17. In 2003, at 20, he became the youngest member of the Stars of Tomorrow aerobatic team at the EAA AirVenture Show in Oshkosh, Wisconsin. He flew a Cap 232 painted in full Flyboys regalia to promote the 2006 film.

“I started flying aerobatics when I was 14,” he told Smithsonian Air & Space magazine. “I flew a bunch of airshows, a competition in an Unlimited, and I flew at Nationals.”​

The pivot to entertainment emerged gradually. It was while studying film at the University of Southern California that Ellison appeared in Flyboys, playing an American pilot fighting for the French in the World War I drama. The film cost $65 million but earned only $18 million, marking a brief acting career. ​

Ellison abandoned competitive flying and acting at the same time, dropping out of USC to focus on production. In 2006, he founded Skydance Media with financial backing from his billionaire father. The company’s name reflects Ellison’s passion for stunt flying, also known as “skydancing.”​

Skydance’s first major success came with the Coen brothers’ True Grit in 2011, which grossed over $250 million worldwide on a $38 million budget. This launched a partnership with Paramount that produced five Mission: Impossible films grossing $3.3 billion globally, two Star Trek movies, and the record-breaking Top Gun: Maverick, which is the 14th highest-grossing film of all time.

The Paramount merger, approved by federal regulators in August, culminates Ellison’s transformation from daredevil to mogul. Now 42, David is the chairman and CEO of Paramount Skydance, overseeing CBS, MTV, and Paramount Pictures. The deal faced obstacles including competing bids and political pressure from President Donald Trump, who extracted a multimillion-dollar settlement from Paramount over a 60 Minutes lawsuit.

Ellison’s strategy centers on technology integration. He plans to create a “studio in the cloud” with Oracle’s infrastructure, using AI to streamline production and reduce costs. The company will double theatrical releases while modernizing Paramount+’s streaming algorithms to minimize subscriber cancellations.

Competitors note he has become adept at managing financial outcomes while appeasing high-profile talent, two critical aspects of studio operations.

But Ellison still has that flyboy DNA: He has his pilot’s license to operate helicopters, perform aerobatics, and fly commercial and multi-engine aircraft. Now, the daredevil who once thrilled Oshkosh crowds is navigating a different kind of turbulence—a 113-year-old studio in an industry being reshaped by streaming giants and tech conglomerates.

For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing. 



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CEO gives job candidates live feedback in interviews—and if they ‘get offended’ they’re not a fit

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For most candidates, feedback on how their interview went arrives days after an interview—if it arrives at all. But one CEO has decided that waiting is a waste of time. Instead, he’s started delivering his critiques to candidates on the spot (sometimes in front of a full panel) as part of the interview test. 

“Started to give candidates direct feedback during the interview process,” Gagan Biyani (who goes by @gaganbiyani) revealed in a recent X post. “Often in public during our panel interviews or live at the end of my 1:1 with them.”

The CEO of Maven, an education platform, and cofounder of another e-learning provider, Udemy, said it’s the “most telling part” of the interview—and often a deciding factor in whether they get offered the job or not. 

“If this is their nightmare, [the] candidate freezes up or even gets offended,” Biyani added it highlights straight away that they are “not a fit” for the company. “If this is exciting, they are more likely to join.”

The California-based chief revealed that he typically reserves the test for applicants that he wants to move forward with. But sometimes, Biyani admitted he’ll even throw the feedback test to candidates he liked who aren’t the perfect fit for the role.

And there’s no right or wrong answer per se—he’s even happy for candidates to scrap what they said moments earlier and pivot based on the critique: “No matter what, we expect the candidate to take the feedback in real-time and change their answers from then on out.” 

Mixed reactions to the interview tactic: ‘If your company doesn’t care about psychological safety, run this test’

The interview tactic has drawn a mixed response. Some commented that they “love it” and that it’s a great way to gauge a candidate’s ability to receive criticism and whether that can thrive under transparent communications. Many others were not so sure. 

“Publicly critiquing someone in a high-stakes, power-imbalance situation like this isn’t a test of ‘coachability.’ It’s a test of who is willing to suppress their nervous system response to humiliation, stress, and social threat in exchange for a job,” the most-liked response read. “Freezing, discomfort, or offense in that context isn’t fragility, it’s biology…. And filtering people out based on how well they override that isn’t selecting for resilience or a growth mindset. It’s selecting for compliance under pressure.”

Others highlighted that a candidate’s reaction in a high-stakes interview setting could be very different from day-to-day in the role, that some need time to sleep on feedback before responding, that it’s a “dehumanising” approach that would raise HR’s eyebrows, and ultimately could result in losing talent.

Career coach Kyle Elliott, EdD, echoed that “in 10 years of coaching more than 1,000 clients, no one has ever reported facing this type of situation.”

While feedback is perfectly normal, he said that the fact that it’s one-sided, based on a single interview without any prior rapport, with a job offer hinging on the response makes it problematic—and is unlikely to actually help test a candidate’s ability to do the job they’ve applied for. “This just reads like an insensitive science experiment.”

“If your company doesn’t care about psychological safety, likes to put people on the spot, and triggers trauma responses, I suppose you could run this test, Elliott added. “Otherwise, your interview process should mirror the candidate’s day-to-day work environment to get the best talent possible.”

How to handle live feedback in an interview

Live feedback is uncommon, but as Lewis Maleh, CEO of the global executive recruitment agency Bentley Lewis, warned, it is growing in popularity.

“We are seeing more companies experiment with stress testing candidates in various ways to assess how they perform under pressure,” he told Fortune. “I’ve heard of some tech CEOs and startup founders doing similar things, particularly in high-pressure roles where quick thinking and resilience are critical. But it’s definitely not mainstream practice.”

Maleh sees the logic. “If you’re hiring for a role where receiving feedback, adapting quickly, and performing under pressure are essential, testing those skills in real time makes sense,” he said. But “it absolutely can be cruel depending on how it’s executed.” Public critiques can intimidate even brilliant candidates, potentially ruling out top talent who simply don’t thrive in that scenario.

Either way, with tech companies often setting the pace for unconventional hiring and retention practices, similar tests could become more common across other sectors.

Maleh’s advice to candidates? Practice receiving feedback in real time. 

“Ask friends or mentors to critique your work or ideas on the spot and practice responding thoughtfully rather than defensively,” he added. “You can also use your favourite LLM chat (ChatGPT, Gemini, Grok) and ask it to “act as a very harsh interviewer” to give you practice.” 

“Focus on staying calm, asking clarifying questions, and showing you can incorporate feedback quickly.”

But don’t forget that interviews are a two-way street: “Remember that if a company’s interview process feels excessively harsh or performative, that might tell you something about their culture too.”



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