Target Names New CFO
Target has a new chief financial officer as Jim Lee has been named to the position effective September 22. He succeeds Michael Fiddelke, Target's chief operating officer.
Lee brings more than 25 years of experience in finance, strategy, team, and culture leadership at PepsiCo. Most recently as the company's deputy chief financial officer, he oversaw its global tax, treasury, investor relations, and environmental, social, and governance reporting functions, and led the finance teams for PepsiCo's international business, comprising approximately $35 billion in revenue.
Before that, as senior vice president of finance at PepsiCo Beverages North America, he led financial planning and analysis, and finance functions for brand and innovation, franchise bottlers, supply chain, and business development.
"As a successful leader in finance and strategy, Jim will oversee the central role our finance team plays in fueling our long-term profitable growth," said Brian Cornell, chair and CEO of Target. "With decades leading core finance functions and nurturing growth, Jim will complement the strong and tenured leadership currently in place on our finance team. From his consumer-centric leadership to his strategy, business development, and corporate governance experience."
"I'm excited to join a team and a brand that I have so much respect for, and I'm eager to get immersed in the retail industry," said Lee. "With a clear strategy, a differentiated shopping experience, and a brand that consumers love, Target's competitive advantages are a strong foundation for long-term growth."
During his career, Lee has led global teams in a wide range of business development and finance functions across North America, Europe, and Asia, including serving as CFO for several of PepsiCo's international regions. He also served as chief strategy and transformation officer of PepsiCo Beverages North America, leading transformation for PepsiCo's largest sector, including business development and mergers and acquisitions.
