05/05/2014
Target CEO and Chairman Gregg Steinhafel is stepping down in the wake of last year’s data breach, which dealt a “devastating” blow to the No. 3 U.S. retailer and prompted congressional hearings, Reuters reports. Target made the announcement this morning and said that Chief Financial Officer John Mulligan will take over as interim president and CEO. Roxanne Austin, a current member of Target’s board of directors, has also been appointed as interim non-executive chair of the board. The announcement came after Target revealed in December 2013 that it was the victim of a cyberattack that resulted in the theft of at least 40 million credit and debit card numbers and 70 million other pieces of personal data.
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