Canada woes, breach seen as cause for Target CEO's exit

[InfoSec News <alerts () infosecnews org>]

http://www.computerworld.com/s/article/9248129/Canada_woes_breach_seen_as_cause_for_Target_CEO_s_exit

By Jaikumar Vijayan
Computerworld
May 5, 2014

Target CEO Gregg Steinhafel's resignation Monday as president, CEO and 
chairman of the Board of the company likely isn't a sign that boards of 
directors are now holding chief executives accountable for massive data 
breaches.

While some observers quickly linked Steinhafel's exit with the breach, his 
departure likely has more to do with Target's botched expansion in Canada, 
analysts said.

"The breach may have been the straw that broke the camel's back," said 
Avivah Litan, an analyst with Gartner. "But I can't imagine him taking the 
fall just because of the breach. The board probably wanted him to leave 
because of poor financial performance" in Canada, she said.

Target on Monday announced that Steinhafel stepped down as CEO, effective 
immediately. In a statement, the company said CFO John Mulligan was named 
interim president and CEO. Board member Roxanne Austin was named interim 
non-executive chair of the board, the statement said.

[...]



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