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Gregg Steinhafel is the latest and most prominent causality of the data breach

There continues to be fallout from the Target security breach that occurred from November 27 through December 15 of last year. During that time, 40 million Target customers had their credit/debit card information stolen while the personal information (addresses, phone numbers, email addresses) of another 70 million customers was compromised.
 
Detailed reports that followed the breach show that Target was negligent in security protocols and failed to identify numerous warnings signs that its systems were being attacked.


Gregg Steinhafel
 
The latest casualty from the Target scandal is Gregg Steinhafel, who served as Chairman, President and CEO. Target’s board of directors today announced Steinhafel’s resignation, which is effective immediately. While Steinhafel, a 35-year Target veteran, will stay onboard in an “advisory capacity”, CFO John Mulligan will step in as interim President and CEO until a permanent replacement is found.
 
“The board is deeply grateful to Gregg for his significant contributions and outstanding service throughout his notable 35-year career with the company,” said Target’s board of directors in a press release. “We believe his passion for the team and relentless focus on the guest have established Target as a leader in the retail industry.”
 
Beth Jacob, Target’s Chief Information Officer (CIO) during the data breach, resigned back in March. Target announced that Bob DeRodes would replace Jacob, and today marks his first day on the job.

Sources: Target [1], [2]



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By tayb on 5/5/2014 3:13:11 PM , Rating: 2
Someone is going to pay for all the fraudulent transactions, issuing of new cards, contacting customers, canceling old cards, adding fraud alerts, opportunity costs, etc of this whole ordeal. The complexity of adding it all up and determining blame is why it has taken so long. Rest assured no one who suffered cash losses or opportunity losses is going to sit there and take it. No, Target will pay for all of it.


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