Target finance chief Fiddelke to assume COO role
Reuters
Published Jan 18, 2024 06:47AM ET
Updated Jan 18, 2024 07:20AM ET
(Reuters) -Target said on Thursday it has named finance chief Michael Fiddelke its new chief operating officer, effective Feb. 4, replacing long-time executive John Mulligan.
Fiddelke, who has been Target's CFO since November 2019, would exit the role after his replacement is named, the retailer said.
As COO, Fiddelke will be tasked with overseeing Target's footprint of nearly 2,000 stores, as well as its delivery operations, store remodels and its global supply chain.
Target has largely bounced back from pandemic-era snags, with easing cost pressures and better inventory control bolstering profits despite an uneven demand environment.
However, Target is seeing some disruptions in shipments from India and Pakistan due to the attacks on vessels in the Red Sea by the Iran-backed Houthi militia, although the effect was "minor" overall, Reuters reported earlier this week.
The company in November projected holiday-quarter earnings largely above Wall Street expectations, but sounded a note of caution on consumer health in the United States.
Mulligan had announced his plans to retire in October and was set to transition to a strategic advisor role with the Minneapolis, Minnesota-based company until February 2025.
Target also announced the upcoming retirement of its chief legal and compliance officer Don Liu on Thursday, as well as a rejig in the leadership of its merchandising department.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.