Why Target poached a top PepsiCo exec to be its new CFO [Fortune]
Walt Disney Company (The) (DIS)
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Source: Fortune
The CFO in question is Jim Lee, who will join the retailer and Fortune 50 company on Sept. 22 after a more than 25-year career at the multinational food and beverage company PepsiCo, where he most recently served as deputy CFO. He succeeds Michael Fiddelke, CFO and chief operations officer, who will take off his finance hat, and remain as COO. Fiddelke has been with Target for more than 20 years. Lee has decades of experience “leading core finance functions and nurturing growth,” Brian Cornell, chair and CEO of Target, said in a statement on Thursday. To get a better sense of what the new CFO hire means for Target, I spoke with Diane Rulke, a professor of organizational behavior at Carnegie Mellon University's Tepper School of Business. As finance chief, Lee, an external hire, could bring in new ideas and new approaches, Rulke said. “From a strategic point of view, it seems to make sense, and I understand why the board wanted that,” she said. For the CFO role at Target, Lee wil
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