BOSTON May 5 Target Corp said that
Chief Executive and Chairman Gregg Steinhafel is leaving in the
wake of the devastating data breach late last year that hurt
profits, shook customer confidence in the No. 3 U.S. retailer
and prompted congressional hearings.
"Today we are announcing that, after extensive discussions,
the board and Gregg Steinhafel have decided that now is the
right time for new leadership at Target," the board said in a
statement released on Monday.
It named Chief Financial Officer John Mulligan as interim
president and CEO and appointed Roxanne Austin, a current member
of Target's board of directors, as interim non-executive chair
of the board.
Target announced in December it was the victim of a cyber
attack that resulted in the theft of at least 40 million payment
card numbers and 70 million other pieces of customer data.
(Reporting by Jim Finkle; Editing by Chizu Nomiyama)