Target CEO Steinhafel Out in Wake of Data Breach - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Target CEO Steinhafel Out in Wake of Data Breach

Posted: Updated:
Target says Chairman and CEO Gregg Steinhafel is out, nearly five months after the retailer disclosed a massive data breach that hurt its reputation.
The nation's third-largest retailer says Steinhafel has agreed to step down as the company's chairman, president and CEO, effective immediately. He also has resigned from its board of directors.
Target, based in Minneapolis, says Chief Financial Officer John Mulligan has been appointed interim president and CEO. Roxanne S. Austin, a member of Target's board, has been named as interim nonexecutive chair of the board.
Steinhafel, a 35-year veteran of Target, will serve in an advisory capacity during the transition.
Target said in December that hackers stole credit and debit card information on tens of millions of customers.  (AP)

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.