Target CEO steps down

Enrolling_in_Target_s_free_credit_watch_2135040000_5352750_ver1.0_640_480

NEW YORK (AP) — 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.

Minneapolis-based Target says Chief Financial Officer John Mulligan has been appointed interim president and CEO. Roxanne Austin, a member of Target’s board, has been named as interim non-executive 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 from tens of millions of customers.

WTHITV.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you confirm your email address and acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s