Michael Fiddelke Shifts Roles at Target
The CFO is moving back to operations with an expansive job overseeing the company's nearly 2,000 stores, Shipt and more.
Michael Fiddelke is stepping up at Target Corp. and headed back into operations.
The nearly 2,000-door retailer said Fiddelke would become chief operating officer on Feb. 4, taking over from John Mulligan, who revealed his plans to retire last October.
Additionally Target said it would split the merchandising duties, “recognizing the size, scale and complexity” of its multicategory merchandise portfolio.
Rick Gomez will oversee frequency categories as chief food, essentials and beauty officer. Jill Sando, currently chief merchandising officer, will oversee discretionary goods as chief merchandising officer of apparel and accessories, home and hardlines.
Fiddelke, 47, has been the company's chief financial officer since 2019 and will continue with the role until a successor has been found. He started his career as a consultant with Deloitte and then picked up an MBA and became an intern at Target in 2003, rising through a series of leadership roles in finance, merchandising, human resources and store operations. Before becoming
CFO, he was senior vice president of operations.
When he takes the lead of operations next month, Fiddelke will have an expansive role in the Target empire. He will oversee the company's retail fleet, its supply chain, fulfillment services, the same-day delivery business Shipt, network capacity planning, the teams that build and remodel Target stores and more.
Brian Cornell, chair and chief executive officer, said in a statement, “With his 20 years with the company, spanning roles across our business.…Michael brings a diverse set of experiences and an end-toend view of our business that will benefit Target and our continued growth well into the future.”
Fiddelke added, “Operations are at the heart of how we serve our guests, and
I'm looking forward to spending even more time with our team members in the field as we build for the future.”
According to a regulatory filing, Fiddelke will get an annual base salary of $900,000, plus a bonus opportunity, stock-based awards and other executive benefits.
Target also said that Don Liu, chief legal and compliance officer, would retire and that it will backfill the position.