Target Names Jim Lee as New CFO to Drive Financial Growth Strategy
Target Corporation appoints Jim Lee its new Chief Financial Officer (CFO), effective September 22, 2024. Lee brings over 25 years of financial leadership experience, having held senior roles at PepsiCo. He will now oversee financial planning, investor relations, internal audit, treasury, tax, and risk management at Target. His new role also includes corporate development and financial products, key functions in the company’s growth strategy.
Brian Cornell, Chair and CEO of Target, praised Jim Lee’s strong background in finance, strategy, and business development. “Jim will play a central role in propelling Target’s long-term profitable growth,” Cornell said. “His expertise in leading core finance functions and nurturing growth makes him an excellent addition to our leadership team.”
Jim Lee expressed excitement about his new role. “Target is a brand I have immense respect for. I look forward to contributing to its competitive advantages and long-term growth,” said Lee.
Lee will succeed Michael Fiddelke, the current Chief Operating Officer at Target. Fiddelke has been instrumental in shaping Target’s financial strategy, and Lee will build upon this foundation as the company continues to innovate and expand in the competitive retail sector.
Jim Lee’s Extensive Experience at PepsiCo
Jim Lee brings a wealth of experience to Target. His 25-year career at PepsiCo involved numerous leadership roles, including Deputy CFO, where he oversaw global tax, treasury, and investor relations for the multinational company. He also led the finance teams for PepsiCo’s international business, managing $35 billion in revenue across diverse regions.
At PepsiCo, Lee’s expertise extended beyond finance. He served as Senior Vice President of Finance for PepsiCo Beverages North America, overseeing brand innovation, financial planning, and franchise bottler relations. Additionally, Lee served as CFO for several PepsiCo international regions, gaining valuable experience in North America, Europe, and Asia.
One of Lee’s standout achievements was serving as Chief Strategy and Transformation Officer for PepsiCo Beverages North America. In this role, he led large-scale business development, mergers and acquisitions, and transformation initiatives across PepsiCo’s largest business unit.
Lee’s experience as a board member for Tropicana Brands Group and Celsius Holdings adds to his impressive financial and governance credentials. His broad range of expertise in finance, strategy, and corporate governance makes him well-suited to drive Target’s roadmap for growth.
Target appoints Jim Lee as its CFO, which marks an exciting new chapter for the company. With his deep understanding of global business and financial strategy, Jim Lee will lead Target’s financial team toward sustained, profitable growth in the highly competitive retail landscape.
For more insights, a Q&A with Jim Lee is available on https://corporate.target.com/news-features/article/2024/09/jim-lee.