Target CEO resigns after hack

  • The Wall Street Journal reported that the CEO of Target Gregg Steinhafel is leaving his position after the information of 70M of its customers was stolen over the holidays.

    Steinhafel, who has been with Target for 35 years, is temporarily being replaced by the Chief Financial Officer John Mulligan and board member Roxanne Austin will take his place as chairman, for the time being. 

    "The last several months have tested Target in unprecedented ways," Steinhafel said, adding he was "personally accountable and pledged that Target would emerge a better company."

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