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Target CEO calls it quits just five months after data breach

Target's CEO, Gregg Steinhafel, resigns from his position as CEO as well as board member, no specifics on why, but could be related to previous data breach.

@CharlesJGantt
Published Mon, May 5 2014 3:17 PM CDT   |   Updated Tue, Nov 3 2020 12:17 PM CST

This morning the Associated Press is reporting that Target's CEO, Gregg Steinhafel, has turned in his resignation from the company and has stepped down from his role as CEO as well as its seat on the board of directors. In the interim, Chief Financial Officer, John Mulligan, will take the helm until a replacement CEO can be found.

Target CEO calls it quits just five months after data breach | TweakTown.com

No official announcement was made on why Steinhafel resigned, but many news sources and industry experts are speculating that it stemmed from immense pressure from shareholders, investors, and the board over last years massive security breach. This resignation falls hot on the heals of the company's Chief Technology Officers resignation last month, and several months of surmounting losses to financial institutions equating to more than $200 million. Steinhafel has been employed by Target for more than 35-years.

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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