Crime

Target CEO Gregg Steinhafel to step down following data breach

By Bloomberg News
Published May 5, 2014 4:00am ET
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Target CEO Gregg Steinhafel to step down following data breach
Target says that about 40 million credit and debit card accounts may have been affected by a data breach that occurred just as the holiday shopping season shifted into high gear. (AP Photo/Damian Dovarganes) | Damian Dovarganes

Target Corp. Chief Executive Officer Gregg Steinhafel, dogged by questions over whether the company responded quickly enough to a data breach last year, will step down as chairman, president and CEO.

John Mulligan, Target’s chief financial officer, will serve as interim CEO while the company seeks a permanent replacement, according to a statement today. Board member Roxanne Austin will be interim chairwoman.

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Data Breach Target