Target, the renowned US retailer, has announced Michael Fiddelke as the new Chief Financial Officer (CFO) and Executive Vice President, with effect from 1 November.
Michael will be replacing Cathy Smith. Cathy had announced to resign earlier this year.
To ensure smooth transition, the retailer announced that Cathy will begin serving as a strategic advisor on 1 November and will remain in that capacity until 1 May 2020.
In his new role, Michael will be responsible for financial planning and analysis, financial operations, internal audit, accounting, investor relations, treasury, tax and risk.
Additionally, he will be overseeing Target’s Financial and Retail Services including guest relations and management of its financial products.
On appointing Michael as CFO and Executive Vice President, Brian Cornell, Chairman and CEO, Target said “After concluding an extensive global search, it is clear that Michael is the right leader for this role.”
Corroborating more on the same, Brian said “With his engineering training and his deep financial experience, Michael is extremely talented at diagnosing and solving complex organisational 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.”
Michael has been associated with Target for more than 15 years now and most recently served as Senior Vice President of Operations.
Besides, he has served the company in different roles across finance, merchandising, human resources and operations.