Target CEO out in wake of data breach

Gregg Steinhafel

After months of damage-control, Target’s CEO is stepping down.

Target has announced Monday morning that Chairman and Chief Executive Gregg Steinhafel is leaving the company.

The news comes in the wake of last year’s cyber attack that resulted in the theft of at least 40 million credit and debit card numbers and 70 million other pieces of customer data.

Target says that after extensive discussions, the board decided it’s time for new leadership.

Chief Financial Officer John Mulligan has been named as interim president and CEO.

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