Target has tapped Jim Lee, a longtime executive at PepsiCo, as its new Chief Financial Officer. Lee, with over 25 years of experience at the global food and beverage giant, sets to join Target’s leadership team on Sept. 22. His extensive background in finance and strategy will be critical as Target focuses on long-term profitable growth.
Proven Leadership at PepsiCo
Most recently, Lee served as Deputy Finance Chief at PepsiCo, overseeing financial planning and strategy for its $35 billion international business. In this role, he led initiatives across brand innovation, supply chain, franchise bottlers, and business development. “Jim’s deep experience in nurturing growth will complement the leadership at Target,” said Brian Cornell, Target’s CEO.
New Chapter for Target’s Finance Team
Lee will succeed Michael Fiddelke, who had been juggling roles as both Chief Operating Officer and CFO. Lee’s arrival marks a significant transition as the retailer prepares for future growth and strengthens its financial team.
“I’m excited to join Target, a brand that I have admired for years,” Lee stated, emphasizing Target’s strong foundation and customer loyalty. “I look forward to contributing to the company’s competitive edge.”
CFO Role Becoming More Strategic
Industry experts are noting the increasing importance of the CFO role. As companies focus on sustainable growth, the finance department is no longer just about tracking numbers, it’s about driving strategic decisions. Brian Unruh, CFO of global AI firm ABBYY, noted, “The finance department provides the real-time data that fuels decision-making and accelerates internal growth drivers.”
Lee’s move to Target comes at a time when CFOs are playing a more active role in shaping corporate strategies, reflecting broader industry trends. With his impressive track record, Lee is suspended to be a key player in Target’s future.
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