Michael Fiddelke serves as the Chief Operating Officer in his role.
Turn the Tables
Hey there! It's good vibes only as we spill the beans on the latest shake-up at Target. Here's the lowdown on their new COO and other merchandising team moves!
They've got some fresh blood in the top spot - Michael Fiddelke steps up as the retail giant's new COO, starting February 4. You might remember him from his intern days back in 2003, but since then he's served in key leadership roles across merchandising, operations, and human resources. He's been the chief financial officer since late 2019, and he'll be holding both roles until a new CFO is hired.
As for the merchandising side of things, Rick Gomez, their chief food and beverage officer, is expanding his purview to include Target's frequency categories. He'll now serve as the chief food, essentials, and beauty officer. In a similar shift, Jill Sando, the current Chief Merchandising Officer, will oversee discretionary categories as the chief merchandising officer of apparel and accessories, home and hardlines.
Fiddelke takes over from John Mulligan, who announced his departure last fall. With operations at the heart of their guest service, Fiddelke is looking forward to spending more time with team members as they build for the future.
In his new role, Fiddelke will oversee around 2,000 stores, the company's global supply chain, and fulfillment services, including same-day delivery. He'll also lead the teams responsible for building and remodeling Target's stores and other facilities.
With a whopping 20 years of experience at Target, CEO Brian Cornell has high praise for Fiddelke, noting how his diverse experiences and end-to-end view of the business will steer Target towards continued growth.
Speaking of growth, Target's drive-up service represents over $7 billion in annual sales, with a 12% growth in the latest quarter. Their same-day services grew more than 8% in the quarter, and their Q3 revenue was $25.4 billion, down 4.2% year over year. As CFO, Fiddelke said during the last earnings call that operations generated over $5.3 billion in cash through the first three quarters of 2023.
operating teams, as they're the ones busy pumping out the magic that gets guests interacting with Target.
As for the merchandising team shuffle, Rick Gomez and Jill Sando will both continue reporting to Chief Growth Officer Christina Hennington. Gomez joined Target in 2013, while Sando has been with the company since 1997. Target also announced the retirement of Chief Legal and Compliance Officer Don Liu. He's been with the company since 2016 and will stay on as a strategic adviser until next year.
So, that's the scoop on the shake-up at Target! Prepare for some new vibes, as Fiddelke and the rest of the team take the reins and steer Target into the future! 🚀🎉
- Michaell Fiddelke, formerly the chief financial officer at Target, takes over as the new COO from John Mulligan.
- Fiddelke will hold both positions until a new CFO is hired, and he will oversee around 2,000 stores, the company's global supply chain, and fulfillment services.
- Rick Gomez, the chief food and beverage officer at Target, will now serve as the chief food, essentials, and beauty officer, with expanded responsibilities for frequency categories.
- Jill Sando, the current Chief Merchandising Officer, will oversee discretionary categories as the chief merchandising officer of apparel and accessories, home and hardlines.
- Gomez and Sando will continue reporting to Chief Growth Officer Christina Hennington in their new roles.
- Don Liu, the Chief Legal and Compliance Officer, announced his retirement and will stay on as a strategic adviser until next year.
