Target Fires CEO Following Data Breach

This is actually a rarity in my opinion. Countless of corporations have suffered massive data breaches, and people are not fired often enough, but Target can’t seem to get past the loss of consumer confidence following the massive breach they suffered. They already fired the CIO, now they fired the CEO too. Well, the data loss was their fault after all.

From Target.com here:

“Today we are announcing that, after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target. Effective immediately, Gregg will step down from his positions as Chairman of the Target board of directors, president and CEO.

The board is deeply grateful to Gregg for his significant contributions and outstanding service throughout his notable 35-year career with the company. 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.

Most recently, Gregg led the response to Target’s 2013 data breach. He held himself personally accountable and pledged that Target would emerge a better company. We are grateful to him for his tireless leadership and will always consider him a member of the Target family.

Any other CEOs that are still using WindowsXP based point of sale machines should be fired too.