WASHINGTON — Target, the major retail chain, has seen their chief executive officer resign after a major data breach scandal rocked the company last year.
Reuters reported that CEO Gregg Steinhafel has resigned after the scandal, which shook customer confidence in the retail giant enough to trigger congressional hearings in Washington, D.C. Target is the third-biggest American retailer.
This past Monday, the board of the company said, “After extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target.” The interim CEO and President is their Chief Financial Officer John Mulligan and they moved one of their board members, Roxanne Austin, as an interim non-executive chair of the board.
The cyber attack, announced in December 2013, left 40 million credit card and debit card numbers compromised as well as 70 million additional pieces of customer data. Mulligan dealt with the brunt of the congressional hearings and public statements.