New CFO joins the retailer as it emerges from a challenging couple of years.

Jim Lee, the former deputy chief financial officer for Pepsi, will officially start in his new role next week, replacing Michael Fiddelke, who will then fully assume the role of chief operating officer, a job opening left by departing longtime executive John Mulligan, who is retiring, according to a Thursday morning release, .

Target has named a veteran of PepsiCo as its new Chief Financial Officer. Jim Lee, who has over 25 years of experience, will assume the role effective September 22nd. He succeeds Michael Fiddelke, who became Target's COO earlier this year.

Target on Thursday announced the appointment of longtime PepsiCo vet Jim Lee as its chief financial officer, one of several recent executive moves made by the Minneapolis-based retailer.