Target CEO Quits in Shadow of Data Breach

Share this content:

Fallout from the data breach claims Gregg Steinhafel, who, as leader of the retailer, claimed personal responsibility for the invasion of millions of customer records.

Target's Steinhafel steps aside.
Target's Steinhafel steps aside.
 

Gregg Steinhafel, who joined Target as a merchandising trainee in 1979 and got taken to school in the aftermath of the retailer's massive holiday data breach, resigned today as chairman, CEO, and president of the embattled company. Steinhafel had served as chief executive since taking over for Bob Ulrich in 2008.

Target's board of directors released a statement saying that “after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target.” Taking over as interim president and CEO is current CFO John Mulligan.

It was Mulligan who got raked over the coals by the Senate Committee on Commerce, Science & Transportation in March during a hearing examining the data breach that affected an estimated 110 million consumers. Committee chairman Jay Rockefeller (D-WV) claimed that Target held more sensitive personal information than the U.S. government and that it spent “much less time and money protecting [it].” Senator Richard Blumenthal (D-CT) charged that “signals were missed by management” in the months before the breach.

Mulligan issued an apology on Target's behalf at the hearing, saying, “We are asking hard questions about whether we could have taken different actions before the breach was discovered.” One of those questions was answered today with the departure of Steinhafel.

The board's statement noted that Steinhafel “held himself personally accountable [for the breach] and pledged that Target would emerge a better company.” It has retained human resources consultant Korn Ferry to lead a search for Steinhafel's permanent replacement.

Loading links....
close

Next Article in Privacy

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here