Target on Thursday announced the appointment of longtime PepsiCo vet Jim Lee as its chief financial officer, one of several recent executive moves made by the Minneapolis-based retailer.

U.S. retailer Target on Thursday named long-time PepsiCo executive Jim Lee as its chief financial officer effective Sept. 22. Lee succeeds Michael Fiddelke, who was appointed as the company's chief operating officer early this year after serving as its finance chief since late 2019.

Target Corp. has named a new chief financial officer. Like Target CEO Brian Cornell, the new CFO has a background at PepsiCo, the food and beverage company.