Until his replacement is named, Fiddelke will continue to serve as the company's CFO, it added.

Fiddelke, who has been Target's finance chief since November 2019, replaces John Mulligan, who announced his plans to retire in October. Mulligan was set to transition to a strategic advisor role with the retailer until February 2025.

Target also announced the upcoming retirement of its chief legal and compliance officer Don Liu on Thursday, as well as a rejig in the leadership of its merchandising department.

(Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri)