Target's Michael Fiddelke has been instrumental in leading the company through one of the more difficult transitions in the retail industry: moving brick-and-mortar business models to the world of online commerce. The COVID-19 pandemic accelerated the company’s plans, with the retailer’s digital growth increasing 45% year-over-year in 2021. That growth was on top of 235% year-over-year growth in same-day services in fiscal 2020. Fiddelke and the rest of Target leadership accomplished this while also increasing revenue, notably crossing the $100 billion mark for the first time in the company's history last year.
Fiddelke, who was appointed CFO in 2019, continues to oversee Target's evolution into the digital space. In his current role, he is responsible for financial planning and analysis; financial operations; internal audit; accounting; investor relations; treasury; tax; risk; and business development, including mergers, acquisitions, partnerships, and joint venture initiatives. The veteran executive also oversees Target’s Financial and Retail Services, which includes Guest Relations and management of its financial products, including Target RedCard.
Fiddelke first joined Target in 2004 as a financial analyst. During his long tenure with the company, he's spent time in many corners of the business, serving in leadership positions across finance, merchandising, human resources, and store operations. As a result of working in so many different parts of the organization, he's gained deep insights, including how it feels to sit on the other side of the table, opposite the finance department. Early on, while working as a financial analyst for the company, he wanted to allocate less money toward store payrolls. Much later, when he worked in store operations and would meet with financial analysts, he was able to see the other side, which has made him a better overall leader.
Most recently, Fiddelke served as Senior Vice President of Operations, leading cross-functional enterprise initiatives spanning merchandising, supply chain, stores, and guest experience. Prior to Target, he spent three years at Deloitte Consulting.
On top of his responsibilities at Target, Fiddelke also serves on the board of the Minnesota Children’s Museum. He holds a Bachelor of Science in industrial engineering from the University of Iowa and an MBA from Northwestern University.