Target names former PepsiCo exec Jim Lee as new chief financial officer
MINNEAPOLIS — Minneapolis-based retailer Target on Thursday announced Jim Lee as its new chief financial officer and member of its leadership team.
Lee has over 25 years of experience at PepsiCo, where he was most recently the company's deputy chief financial officer. He will succeed Michael Fiddelke, Target's chief operating officer.
Lee says he's "excited" to join a brand and team he has respect for and is "eager to be immersed in the retail industry."
Brian Cornell, chair and CEO of Target, called Lee a "successful leader" in both strategy and finance.
"Jim will oversee the central role our finance team plays in fueling our long-term profitable growth," Cornell said. "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, Jim will be a great addition to our leadership team as we focus on driving Target's roadmap for growth."
Lee's new position will be effective on Sunday.
The retailer recently announced plans for the holiday season, including the intent to hire around 100,000 seasonal workers. The store's car seat trade-in event is also happening right now and goes through Sept. 28.
Target has nearly 1,963 stores throughout the U.S. and two corporate campuses in the Twin Cities.