MINNEAPOLIS, Oct. 9, 2019 /PRNewswire/ -- Target Corporation
(NYSE: TGT) today announced that Michael
Fiddelke has been named Executive Vice President and Chief
Financial Officer, effective Nov. 1.
In this role, Fiddelke 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, leading numerous cross-functional enterprise
initiatives spanning merchandising, supply chain, stores and guest
experience. He is being appointed after an extensive evaluation of
internal and external candidates.
Target's Chairman and Chief Executive Officer Brian Cornell said, "After concluding an
extensive global search, it's clear that Michael is the right
leader for this role. 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."
Prior to Target, Fiddelke worked at Deloitte Consulting, LLP.
Fiddelke has an M.B.A. from Northwestern
University's Kellogg School of Management and a Bachelor of
Science in Industrial Engineering from the University of Iowa.
As previously announced, and to ensure a smooth transition,
Cathy Smith will begin serving as a
strategic advisor on Nov. 1. She will
remain in that capacity until May 1,
2020.
Updates to Merchant Leadership
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.
"Mark brought a tremendous amount of energy to his role as our
chief merchant. His focus on developing the next generation of
leadership, establishing a comprehensive merchandising strategy and
re-energizing our owned brand portfolio are among his most
meaningful contributions. Along with the entire Target team, I wish
him the best. As we head into the holiday season and beyond,
Christina and Jill are well positioned to lead our merchandising
organization given their strong business acumen and extensive
experience driving ambitious and successful merchandising
strategies," Cornell said.
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.
About Target
Minneapolis-based Target Corporation (NYSE:
TGT) serves guests at more than 1,800 stores and at Target.com.
Since 1946, Target has given 5% of its profit to communities, which
today equals millions of dollars a week. For the latest store count
or for more information, visit Target.com/Pressroom. For a
behind-the-scenes look at Target, visit Target.com/abullseyeview or
follow @TargetNews on Twitter.
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SOURCE Target Corporation