By Mike Obel - Target Corp. (NYSE:TGT) on Monday replaced CEO Gregg Steinhafel, a marketing expert whose 35-year career iwth the giant retailer was marred last year by one of the worst corporate data breaches in U.S. corporate history.
John Mulligan, Target’s chief financial officer, has been appointed as interim president and CEO, the Minneapolis company said in a statement. Roxanne S. Austin, a current member of Target’s board of directors, has been appointed as interim non-executive chair of the board.
Target said in December that a cyber attack had caused the theft of 70 million pieces of customer data and at least 40 million payment card numbers.
Steinhafel, 59, had also served as board chairman and president and "held himself personally accountable" for the data breach, the company said.