Target CEO Resigns in Credit Card Data Breach Aftermath

Target CEO Resigns in Credit Card Data Breach Aftermath

Target Retail Store 310x

Gregg Steinhafel will step down as President, CEO, and Chairman of the Board, effective today.

Remember that Target credit card kerfuffle last year, when hackers made off with 40 million credit card numbers? The aftermath of that disaster is still rolling, and Target's CEO is resigning because of it.

Effective today, Target CEO Gregg Steinhafel will step down from his leadership roles in the company, which also include President and Chairman of the Board. He will stay on as an adviser for the next several months.

"The board is deeply grateful to Gregg for his significant contributions and outstanding service throughout his notable 35-year career with the company," said Target in a press release today. "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."

In the interim, Target CFO John Mulligan will serve as CEO, while board member Roxanne S. Austin will serve as the non-Executive Chairwomen.

Steinhafer's letter of resignation can be found here.

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Wait, why is he resigning when this is clearly a software-based issue? Surely the people responsible for coding the data security are the ones who're to blame, right?

This isn't Japan, where a misguided sense of honor should dictate punishments, especially when it's directed towards people who aren't responsible for what happened.

SKBPinkie:
Wait, why is he resigning when this is clearly a software-based issue? Surely the people responsible for coding the data security are the ones who're to blame, right?

This isn't Japan, where a misguided sense of honor should dictate punishments, especially when it's directed towards people who aren't responsible for what happened.

Nothing in the PR world says we're getting things fixed by firing the CEO, and with the way compensation packages are set up, he'll probably make more being fired than if he stayed on. So, do not pity him, for he is one with the golden parachute.

SKBPinkie:
Wait, why is he resigning when this is clearly a software-based issue? Surely the people responsible for coding the data security are the ones who're to blame, right?

This isn't Japan, where a misguided sense of honor should dictate punishments, especially when it's directed towards people who aren't responsible for what happened.

Maybe he's not resigning due to being "punished" but simply due to being worn down and tired of the hassle dealing with the mess (as well as maybe just being tired of being a CEO).

If he WERE being punished, or was resigning out of a sense of honor (falling on the sword...jumping on the grenade...whatever) he surely would have resigned last year after the event happened.

My opinion anyway.

I'm glad. I don't blame him for the hack, but I absolutely blame him for Target's slow response.

P.S. Thanks

I work at Target and this hack has not only made it harder to sell Redcards, but everyday I have to deal with jackasses who think we're gonna steal their identity.

Wouldn't it be funny though if it turned out to be a Wal-Mart employee that did this?

RaikuFA:
I work at Target and this hack has not only made it harder to sell Redcards, but everyday I have to deal with jackasses who think we're gonna steal their identity.

Wouldn't it be funny though if it turned out to be a Wal-Mart employee that did this?

agreed. It's been almost half a year now. We are not going to steal your identity, we aren't going to take your information. Having guests that even jokingly ask is it safe to use a card again get's on my nerves. And getting redcards is hard enough when most people think they are a credit card, now this has made it even tougher!

sky_rider19:

RaikuFA:
I work at Target and this hack has not only made it harder to sell Redcards, but everyday I have to deal with jackasses who think we're gonna steal their identity.

Wouldn't it be funny though if it turned out to be a Wal-Mart employee that did this?

agreed. It's been almost half a year now. We are not going to steal your identity, we aren't going to take your information. Having guests that even jokingly ask is it safe to use a card again get's on my nerves. And getting redcards is hard enough when most people think they are a credit card, now this has made it even tougher!

I try pushing the debit one. That usually works. Even the joking ones also get on my nerves.

and he'll still have enough money from severance pay to fund a Hollywood romcom while Target's reputation is still tarnished. They might consider axing employees if the profits dip too far for them, when this guy could have stayed on and helped fix the PR nightmare. But, they had to play the "we're getting rid of the CEO and implying that the problems will go away because of this" card, and he was probably fine with that considering the golden parachute.

RaikuFA:
I work at Target and this hack has not only made it harder to sell Redcards, but everyday I have to deal with jackasses who think we're gonna steal their identity.

The funny thing is many of those idiots probably shop online with no common sense about online personal security, or fall for the phishing scams ever present everywhere on the net. Also, similar problems could happen with any business nowadays, with hackers finding holes, admins fixing them, and new holes being found. You gotta love the sensationalism in the news media working up people who would otherwise be completely unaware of the issue into ignorant jerks who point their paranoia in the wrong direction.

I can kinda feel your pain, too. As a shift manager at the movies, I feared whenever someone had a problem with the gift cards or credit card # based ticket coupons. They sometimes didn't work at all[1] and I had to call a number that wasn't open on weekends (the time when I'd usually see these things, being a movie theater). Jerks accused me of not accepting their legal payment[2] or outright claimed I was stealing from them.

[1] It would help if our credit card line didn't drop every other week.
[2] Management reserves the right to refuse this coupon was a lifesaver, if I could find it.

RaikuFA:

sky_rider19:

RaikuFA:
I work at Target and this hack has not only made it harder to sell Redcards, but everyday I have to deal with jackasses who think we're gonna steal their identity.

Wouldn't it be funny though if it turned out to be a Wal-Mart employee that did this?

agreed. It's been almost half a year now. We are not going to steal your identity, we aren't going to take your information. Having guests that even jokingly ask is it safe to use a card again get's on my nerves. And getting redcards is hard enough when most people think they are a credit card, now this has made it even tougher!

I try pushing the debit one. That usually works. Even the joking ones also get on my nerves.

I do too. I remember before this whole fiasco I was able to get 2-3 debit cards a shift. Now, I'm lucky to get one. But I'm slowly getting them consistently.

I had one guest come up saying "I've been actively avoiding Target since the whole problem." So I calmly explain that the problem was fixed and proceeded to scan the items. once the whole transaction was done and I handed her her receipt, she said "Well that was painless, I hope it stays that way." and walks off. I'm glad I can control what I say out loud or else I probably would have snapped at her as she was leaving.

 

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