Target Promotes SVP of Operations to EVP & CFO

Minneapolis — Target Corporation has named Michael Fiddelke as executive vice president and chief financial officer, effective November 1, 2019. He will be responsible for financial planning and analysis, financial operations, internal audit, accounting, investor relations, treasury, tax and risk. He will also oversee Target’s Financial and Retail Services, which includes guest relations and management of its financial products, including Target RedCard.

In more than 15 years at Target, Fiddelke has served in a variety of roles across finance, merchandising, human resources and operations. Most recently he served as senior vice president of operations. Prior to Target, Fiddelke worked at Deloitte Consulting, LLP.

“After concluding an extensive global search, it’s clear that Michael is the right leader for this role,” says Brian Cornell, Target’s chairman and CEO. “With his engineering training and his deep financial experience, Michael is extremely talented at diagnosing and solving complex organizational challenges and driving business results. He is respected as a highly collaborative business partner and will bring a modern approach to financial and enterprise leadership for Target.”

As previously announced, and to ensure a smooth transition, Cathy Smith will begin serving as a strategic advisor on November 1. She will remain in that capacity until May 1, 2020.

Target also announced the resignation of its chief merchant Mark Tritton. With this departure, Christina Hennington and Jill Sando, two Target executives with deep expertise and nearly 40 years of combined experience with the company, will assume interim leadership of the retailer’s merchandising organization. In January 2019, Target named both Hennington and Sando senior vice presidents and general merchandising managers, reflecting their expanded responsibilities with the company. During this interim period, Hennington and Sando will report directly to CEO Brian Cornell. This operating structure will remain in place until further notice, and the company does not plan to initiate an external search at this time.

Hennington joined Target in 2003 and currently serves as senior vice president and general merchandising manager of essentials, beauty, hardlines and services. In her interim position, Hennington will assume responsibility for the merchandising planning and capabilities teams.

Sando joined Target in 1997 and currently serves as senior vice president and general merchandising manager of apparel, accessories and home. In her interim position, Sando will assume responsibility for owned brand sourcing, design and brand management.

Minneapolis-based Target Corporation has more than 1,800 stores. For more information, visit www.Target.com.

 

SOURCE: Target Corporation

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