MINNEAPOLIS - Retail giant Target Corporation (NYSE: NYSE:TGT) announced on Thursday that Jim Lee has been appointed as its new chief financial officer (CFO). Lee is set to join the company's leadership team starting September 22, taking over the role from Michael Fiddelke, who currently serves as Target's chief operating officer.
Lee comes to Target with an extensive background at PepsiCo (NASDAQ:PEP), where he accumulated over 25 years of experience in various financial and strategic roles. His most recent position at PepsiCo was that of deputy chief financial officer, where he managed global tax, treasury, investor relations, and environmental, social, and governance reporting functions. He also played a key role in leading the finance teams for PepsiCo's international business, which generates about $35 billion in revenue.
In his new role at Target, Lee will oversee financial planning and analysis, finance capabilities, internal audit, accounting, investor relations, treasury, tax, risk, financial products and services, and corporate development. Brian Cornell, chair and CEO of Target, expressed confidence in Lee's ability to contribute to the company's long-term profitable growth, highlighting his experience in leading core finance functions and nurturing growth.
Lee expressed enthusiasm about joining Target, citing the company's clear strategy, differentiated shopping experience, and strong brand presence as foundational elements for the company's long-term growth.
Throughout his career, Lee has demonstrated leadership in a variety of business development and finance functions across multiple regions, including North America, Europe, and Asia. He has also served as CFO for several of PepsiCo's international regions and held the position of chief strategy and transformation officer for PepsiCo Beverages North America.
In addition to his corporate roles, Lee has served on multiple boards, including Tropicana Brands Group and Celsius Holdings (NASDAQ:CELH).
The information about Jim Lee's appointment as CFO of Target is based on a press release statement from the company. Target, headquartered in Minneapolis, operates nearly 2,000 stores and an online platform, with a commitment to giving 5% of its profit to communities.
In other recent news, Target Corp has seen positive developments on multiple fronts. The company has appointed Jim Lee, formerly of PepsiCo, Inc., as its new Executive Vice President and Chief Financial Officer. Lee's compensation package includes an annual base salary of $850,000, a potential annual cash incentive equal to his base salary, and stock-based awards with a pro-rated target payout value of $1.5 million.
Additionally, Target has announced a quarterly dividend of $1.12 per common share, continuing its tradition of returning value to shareholders. The company also reported a 2% increase in comparable sales and a 42% surge in earnings per share for Q2, hitting $2.57.
The company has further strengthened its financial position by completing a $750 million notes sale in an underwritten agreement with Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. Looking forward, Target expects Q3 comparable sales growth between 0% to 2% and an EPS range of $2.10 to $2.40. The company also plans to invest between $3 billion to $4 billion in capital expenditures for the year. These recent developments highlight Target's ongoing commitment to its strategic initiatives and financial stability.
InvestingPro Insights
Target Corporation (NYSE: TGT) has recently made a strategic move with the appointment of Jim Lee as its new CFO. As investors and analysts look closely at the company's financial health and prospects, certain metrics and insights from InvestingPro become particularly relevant.
InvestingPro Data indicates that Target boasts a substantial market capitalization of $70.76 billion, reflecting its significant presence in the retail sector. The company's P/E ratio, which stands at 15.99, suggests that its shares might be trading at a reasonable price relative to its near-term earnings potential. Moreover, the PEG ratio of 0.48 points to a potentially undervalued stock when considering the company's earnings growth.
In terms of financial performance, Target has shown resilience with a gross profit of $30.5 billion and a gross profit margin of 28.42% over the last twelve months as of Q2 2025. This indicates a strong ability to generate earnings relative to its revenue, which is a positive sign for investors.
InvestingPro Tips highlight that Target has raised its dividend for 54 consecutive years, demonstrating a commitment to returning value to shareholders. Additionally, 18 analysts have revised their earnings upwards for the upcoming period, which may signal confidence in the company's financial outlook and the potential impact of strategic decisions such as the appointment of Jim Lee as CFO.
For investors seeking more in-depth analysis and additional insights, InvestingPro offers a comprehensive list of tips, with 8 more available at https://www.investing.com/pro/TGT. These tips could provide valuable context and guidance for making informed investment decisions regarding Target Corporation.
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