Target’s finance team plays many important roles that keep our business firing on all cylinders — from providing timely and accurate financials to serving as strategic business partners to teams across the enterprise.
Today we announced that Jim Lee will lead that work as our new chief financial officer (CFO). Jim has more than 25 years of finance, business and strategy leadership experience at PepsiCo. His wide and diverse range of skills, experience leading global teams and working on popular brands like Pepsi, Gatorade, Lays and Doritos — and his love for the Bullseye brand — make him a great fit for the role.
We asked Jim to tell us more about himself and what he’s looking forward to with his new team.
Welcome to Target! What inspired you to join Target as CFO and what excites you about this new challenge?
Thank you! I’m excited to be here. First and foremost, I really love the Target brand and what it stands for. I’m a lifelong Target shopper and a big believer in where Target is headed as a company. I think its competitive advantages — from the value and differentiation it offers through things like its owned brands to a shopping experience that generates such loyalty from its guests — are a strong foundation for outsized growth.
I’m excited to immerse myself in a new industry. I’ve been in consumer products at PepsiCo for 26 years and I’m excited to dive into the pace and complexity of retail. In fact, I’ve been walking Target stores in the last several weeks, taking mental notes about things I’m eager to learn more about. I’m naturally very curious and it will be energizing to learn all about what makes the company so beloved by consumers.
How would you describe your leadership style?
With me, what you see is what you get. I’m authentic, transparent and approachable. I appreciate spending time across levels and getting to know teams. And when digging into an issue or opportunity, I value hearing many different perspectives and having an open discussion with teams. I know Target’s culture is all about caring, growing and winning together, and that really resonates with me, especially as someone who appreciates the rewards that come with mentoring.
You talked about addressing opportunities. Can you tell us more about your decision-making process?
Knowing there are a lot of different ways to tackle challenges, I like to be flexible in my approach. My undergraduate degree was in operations research, which features a focus on statistics, probability and network optimization. My view is there’s rarely a single straightforward answer to what we’re trying to solve. As we assess the mosaic of potential outcomes, my goal is to help us allocate our resources and take strategic bets in a way that puts us in the best position to maximize our returns.
How do you like to spend your free time?
I have three kids ranging in age from 12 to 17. All of them, along with my wife, are accomplished classical musicians. So, much of my free time is spent with them, driving them to different commitments related to their music. Outside of that, I like to exercise every day. I also enjoy the strategy and probabilities in the occasional game of poker and am a big sports fan.
We know you’re a Target shopper. What would we always find in your Target cart?
My kids enjoy sports and gaming cards, so I’ll often pick up a pack or two of those. There’s a good chance you’ll find different home goods and snacks and beverages in my cart. I’m also a big fan of Target’s owned brand products, with Good & Gather French Vanilla Almond Granola a particular favorite. And I can’t resist Favorite Day Gummi Bears.
