Target is replacing CEO Gregg Steinhafel with CFO John Mulligan, following last year's massive data breach that exposed the personal information of 70 million customers.
According to a company statement released on Monday morning:
The board is deeply grateful to Gregg for his significant contributions and outstanding service throughout his notable 35-year career with the company. We believe his passion for the team and relentless focus on the guest have established Target as a leader in the retail industry. Gregg has created a culture that fosters innovation and supports the development of new ideas. Under his leadership, the company has not only enhanced its ability to execute, but has broadened its strategic horizons. He also led the company through unprecedented challenges, navigating the financial recession, reacting to challenges with Target’s expansion into Canada, and successfully defending the company through a high-profile proxy battle. Read more...
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from MashableStan Schroeder
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