In this role, Fiddelke will be responsible for financial planning and analysis, financial operations, internal audit, accounting, investor relations, treasury, tax and risk. He will also oversee Target's Financial and Retail Services, which includes guest relations and management of its financial products, including Target RedCard.

In more than 15 years at Target, Fiddelke has served in a variety of roles across finance, merchandising, human resources, and operations. Most recently he served as senior vice president of operations, leading numerous cross-functional enterprise initiatives spanning merchandising, supply chain, stores and guest experience. He is being appointed after an extensive evaluation of internal and external candidates.

Target's chairman and chief executive officer Brian Cornell said, "After concluding an extensive global search, it's clear that Michael is the right leader for this role. With his engineering training and his deep financial experience, Michael is extremely talented at diagnosing and solving complex organizational challenges and driving business results. He is respected as a highly collaborative business partner and will bring a modern approach to financial and enterprise leadership for Target."

Prior to Target, Fiddelke worked at Deloitte Consulting, LLP. Fiddelke has an M.B.A. from Northwestern University's Kellogg School of Management and a Bachelor of Science in Industrial Engineering from the University of Iowa.

As previously announced, and to ensure a smooth transition, Cathy Smith will begin serving as a strategic advisor on Nov. 1. She will remain in that capacity until May 1, 2020.