[net-gold] CONSUMER AND INTERNET FRAUD HOAXES AND SCAMS : RETAIL STORES : BUSINESS: CORPORATIONS: NAMED CORPORATIONS: TARGET : CREDIT CARDS : DEBIT CARDS: Target's CEO Is out in Wake of Big Security Breach
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Nabble Groups Net-Gold <ml-node+s3172864n3172864h56@xxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, "Net-Gold @ Wiggio.com" <netgold@xxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Tue, 6 May 2014 00:42:52 -0400 (EDT)
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CONSUMER AND INTERNET FRAUD HOAXES AND SCAMS :
RETAIL STORES :
BUSINESS: CORPORATIONS: NAMED CORPORATIONS: TARGET :
CREDIT CARDS :
DEBIT CARDS:
Target's CEO Is out in Wake of Big Security Breach
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Target's CEO Is out in Wake of Big Security Breach
NEW YORK May 5, 2014 (AP)
By ANNE D'INNOCENZIO
Associated Press (AP)
ABC News
http://abcnews.go.com/US/wireStory/targets-chairman-ceo-wake-breach-23587157
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Target's CEO has become the first boss of a major corporation to lose his
job over a breach of customer data, showing how responsibility for
computer security now reaches right to the top.
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Gregg Steinhafel, who was also president and chairman, stepped down nearly
five months after Target disclosed a huge pre-Christmas breach in which
hackers stole millions of customers' credit- and debit-card records. The
theft badly damaged the store chain's reputation and profits.
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Steinhafel, a 35-year veteran of the company and chief executive since
2008, also resigned from the board of directors, Target announced Monday.
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"He was the public face of the breach. The company struggled to recover
from it," said Cynthia Larose, chair of the privacy and security practice
at the law firm Mintz Levin. "It's a new era for boards to take a
proactive role in understanding what the risks are."
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The departure of Steinhafel, 59, suggests the company wants a clean slate
as it wrestles with the fallout. But the resignation leaves a leadership
hole at a time when the 1,800-store chain is facing many other challenges.
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The company, known for its trendy but affordable housewares and fashions,
is struggling to maintain its cachet while competing with Wal-Mart and
Amazon.com. Target is also grappling with a disappointing expansion into
Canada, its first foray outside the U.S.
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Experts say the breach, which highlighted the flaws in Target's security
system, seemed to be the final straw.
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The Target board said in a statement that after extensive discussions with
Steinhafel, they both "have decided it is the right time for new
leadership at Target." The board also said that he "held himself
personally accountable."
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
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