May 5, 2014 8:18 AM
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 This material may not be published, broadcast, rewritten or redistributed.)
8 hours ago
Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.
Send us your feedback. We want to hear from you!
Look at photos and videos and share them!
|KRISTV.COM Mobile Website
Get KRISTV.com on your mobile or PDA!
|KRISTV.COM Mobile Apps
Get our mobile apps on your mobile or PDA!
See the latest winning numbers!
|6 News Team
Read about your favorite KRIS-TV personalities!
|FCC Online Public File
FCC Public File of Records, Reports, and more