Target (TGT) Appoints Jim Lee as CFO

Target Corporation (NYSE: TGT) today announced that Jim Lee has been named chief financial officer and a member of its leadership team effective Sept. 22. In his new role, Lee will be responsible for financial planning and analysis, finance capabilities, internal audit, accounting, investor relations, treasury, tax, risk, financial products and services and corporate development. He succeeds Michael Fiddelke, Target's 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, Target. "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."

"I'm excited to join a team and a brand that I have so much respect for, and I'm eager to get immersed in the retail industry," 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 brings more than 25 years of experience in finance, strategy, team and culture leadership at PepsiCo. Most recently as the company's deputy chief financial officer, he oversaw its global tax, treasury, investor relations and environmental, social and governance reporting functions, and led the finance teams for PepsiCo's international business, comprising approximately $35 billion in revenue. Prior to that, as senior vice president, finance, of PepsiCo Beverages North America, he led financial planning and analysis, and finance functions for brand and innovation, franchise bottlers, supply chain and business development.

During his career, Lee has led global teams in a wide range of business development and finance functions across North America, Europe and Asia, including serving as CFO for several of PepsiCo's international regions. He also served as chief strategy and transformation officer of PepsiCo Beverages North America, leading transformation for PepsiCo's largest sector, including business development and mergers and acquisitions.

Jim has served on multiple boards during his PepsiCo career, including Tropicana Brands Group and Celsius Holdings.

A Q&A with Lee is available on Target's corporate website.

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