abc
QUICK LINKS:

Target CEO Steinhafel Out in Wake of Data Breach

Updated: 05/05/2014 9:39 AM
Created: 05/05/2014 8:51 AM KAALtv.com

NEW YORK (AP) - Target says Chairman and CEO Gregg Steinhafel is out, nearly five months after the retailer disclosed a massive data breach that hurt its reputation.
    
The nation's third-largest retailer says Steinhafel has agreed to step down as the company's chairman, president and CEO, effective immediately. He also has resigned from its board of directors.
    
Target, based in Minneapolis, says Chief Financial Officer John Mulligan has been appointed interim president and CEO. Roxanne S. Austin, a member of Target's board, has been named as interim nonexecutive chair of the board.
    
Steinhafel, a 35-year veteran of Target, will serve in an advisory capacity during the transition.
    
Target said in December that hackers stole credit and debit card information on tens of millions of customers.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



Winter Storm Warning

MN AREAS AFFECTED: Le Sueur; Rice; Steele; Waseca
Expires: 11/26/2014 6:00 PM

Winter Weather Advisory

MN AREAS AFFECTED: Carver; Dakota; Freeborn; Hennepin; Ramsey; Scott; Wright
Expires: 11/26/2014 6:00 PM

Winter Weather Advisory

MN AREAS AFFECTED: Dodge; Mower
Expires: 11/26/2014 6:00 PM

Winter Weather Advisory

IA AREAS AFFECTED: Boone; Emmet; Hamilton; Hancock; Humboldt; Kossuth; Palo Alto; Pocahontas; Webster; Winnebago; Wright
Expires: 11/26/2014 12:00 PM

Winter Weather Advisory

IA AREAS AFFECTED: Black Hawk; Bremer; Butler; Cerro Gordo; Franklin; Grundy; Hardin; Jasper; Marshall; Poweshiek; Story; Tama; Worth
Expires: 11/26/2014 6:00 PM

Winter Weather Advisory

IA AREAS AFFECTED: Chickasaw; Floyd; Mitchell
Expires: 11/26/2014 6:00 PM