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Target Names Michael Fiddelke Executive Vice President and Chief Financial Officer

Target Names Michael Fiddelke Executive Vice President and Chief Financial Officer


MINNEAPOLIS, MN
Monday, October 14th, 2019

Target is losing one Chief, but gaining another, following Mark Tritton’s departure, Cathy Smith's retirement announcement, and Michael Fiddelke’s appointment. According to the local Biz Journals, Target’s current Chief of Merchandising, Tritton, will be jumping ship and joining Bed Bath & Beyond as its new President and CEO. The hole in Target’s leadership staff won’t be empty for long, however, as Fiddelke has been named its new Executive Vice President and Chief Financial Officer, effective November 1.

Brian Cornell, Chairman and Chief Executive Officer, Target“After concluding an extensive global search, it’s clear that Michael is the right leader for this role,” Chairman and Chief Executive Officer Brian Cornell commented in the company’s press release. “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.”

Cornell continued: "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."

Michael Fiddelke, Executive Vice President and Chief Financial Office, TargetFiddelke has been with the company for over 15 years and has served in various capacities 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 current CFO, Cathy Smith, will be planning to retire, but will stay on as a strategic advisor until May 2020.

In his new role, Fiddelke will be taking charge of 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, like its Target RedCard.

Effective November 1, Target Corporation will be welcoming a new Executive Vice President and Chief Financial Officer to its ranks

Target has also appointed Christina Hennington and Jill Sando, current Senior Vice Presidents and General Merchandising Managers, as interim leadership for its merchandising organization. In their new interim positions, they will report directly to CEO Brian Cornell. Both executives boast deep expertise and nearly 40 years of combined experience with the company.

"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,” finished Cornell.

Target’s current operating structure will remain in place until further notice, and the company does not plan to initiate an external search at this time. Congratulations to all on their next career steps!

Deli Market News will continue keeping tabs on all deli, dairy, bakery, specialty foods, and retail news, so stick with us.

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