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Tritton exits, Fiddelke advances at Target

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Hennington, Sando to head merchandising organization

MINNEAPOLIS — Target Corp. chief merchant Mark Tritton is resigning to become CEO of Bed, Bath & Beyond.

With his departure, Target has tapped Christina Hennington and Jill Sando, two executives with nearly 40 years of combined experience with the company, to head the retailer’s merchandising organization on an interim basis. They will report directly to Target chairman and chief executive officer Brian Cornell. The company said Wednesday that it does not plan to launch an external search for a permanent replacement for Tritton at this time.

“Mark brought a tremendous amount of energy to his role as our chief merchant,” Cornell said. “His focus on developing the next generation of leadership, establishing a comprehensive merchandising strategy and re-energizing our owned brand portfolio are among his most meaningful contributions. Along with the entire Target team, I wish him the best. As we head into the holiday season and beyond, Christina and Jill are well positioned to lead our merchandising organization given their strong business acumen and extensive experience driving ambitious and successful merchandising strategies.”

Both Hennington and Sando were named senior vice presidents and general merchandising managers in January, reflecting their expanded responsibilities with the company.

Hennington joined Target in 2003 and currently serves as senior vice president and general merchandising manager of essentials, beauty, hardlines and services. In her interim position, Hennington will assume responsibility for the merchandising planning and capabilities teams.

Sando joined Target in 1997 and currently serves as senior vice president and general merchandising manager of apparel, accessories and home. In her interim position, Sando will assume responsibility for owned brand sourcing, design and brand management.

Target also announced that Michael Fiddelke has been named executive vice president and chief financial officer, effective November 1. He succeeds Cathy Smith, whose planned retirement was announced in January. Smith will begin serving as a strategic advisor on November 1, and will serve in that role through May 1, 2020.

In his new post 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.

Fiddelke has spent more than 15 years at Target, serving in a variety of roles across finance, merchandising, human resources, and operations. Most recently he was 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.

“After concluding an extensive global search, it’s clear that Michael is the right leader for this role,” Cornell said. “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.

 


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