Target taps PepsiCo veteran Jim Lee as new CFO

MINNEAPOLIS—Target Corp. has tapped Jim Lee as its new chief financial officer. Lee is a seasoned leader with more than 25 years of financial and strategic expertise at PepsiCo. He will step into his new role on September 22 and oversee Target's finance function and join its leadership team, taking the reins from Michael Fiddelke, who recently transitioned to the role of Chief Operating Officer.

“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, who cited Lee’s track record of nurturing growth and his extensive experience in consumer-centric leadership, which he believes will complement Target's existing finance team.

"I'm excited to join a team and a brand that I have so much respect for," 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."

Lee joins Target after a long tenure at PepsiCo, where he most recently served as Deputy CFO. At PepsiCo, he managed global tax, treasury, investor relations, and environmental, social, and governance (ESG) reporting, while also overseeing the finance teams for PepsiCo’s $35 billion international business. Lee’s diverse experience in finance leadership spans across North America, Europe, and Asia, giving him a global perspective that will likely benefit Target as it pursues its growth objectives.

With Lee at the financial helm, Target is betting that his expertise in strategic development, business transformation, and global finance will help the retailer sustain its competitive edge and drive continued success.