The new chief financial officer will join the retailer on Sept. 22 after more than 25 years at the drinks maker, where he most recently served as deputy CFO.

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 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.