Target CEO resigns after data breach
Joe Raedle/Getty Images


This morning, Target released a statement announcing that its CEO, Gregg Steinhafel, is leaving the company. The news comes five months after hackers stole 40 million credit card numbers from the store.
In the statement, Steinhafel said he is "personally responsible" for the data breach. Target's chief financial officer, John Mulligan, will serve as interim president and CEO following Steinhafel's exit.
"We are grateful to him for his tireless leadership and will always consider him a member of the Target family," the company's board of directors said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Last month, Target acknowledged that company officials were alerted to the data breach but chose to ignore the suspicious activity.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
-
Do smartphone bans in schools work?
The Explainer Trials in UK, New Zealand, France and the US found prohibition may be only part of the solution
-
Doom: The Dark Ages – an 'exhilarating' prequel
The Week Recommends Legendary shooter adds new combat options from timed parries to melee attacks and a 'particularly satisfying' shield charge
-
7 US cities to explore on a microtrip
The Week Recommends Not enough vacation days? No problem.
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read