Target Corp. announced it named PepsiCo. veteran Jim Lee CFO and a member of its leadership team.
Lee will supervise financial planning and analysis, finance capabilities, internal audit, accounting, investor relations, treasury, tax, risk, financial products and services and corporate development. As Target CFO, he succeeds Michael Fiddelke, Target COO and CFO.
Lee brings 25 years of experience in finance, strategy, team and culture leadership at PepsiCo, Target noted. Most recently as PepsiCo’s deputy CFO, Lee oversaw its global tax, treasury, investor relations and environmental, social and governance reporting functions, and he led the finance teams for PepsiCo’s $35 billion international business.
“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, Target chair and CEO. “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.”
In a Q&A on Target’s website, Lee described his decision-making process as based on “knowing there are a lot of different ways to tackle challenges, I like to be flexible in my approach. My undergraduate degree was in operations research, which features a focus on statistics, probability and network optimization. My view is there’s rarely a single straightforward answer to what we’re trying to solve. As we assess the mosaic of potential outcomes, my goal is to help us allocate our resources and take strategic bets in a way that puts us in the best position to maximize our returns.”
