Gregg Steinhafel has stepped down as chairman, president and chief executive officer of Target Corp., an apparent victim of the company’s massive data breach and stumbles in Canada last year.
John Mulligan, Target's chief financial officer, will serve as interim president and ceo until Steinhafel's successor is appointed.
Roxanne Austin, a member of Target's board, will serve as non-executive chair until a permanent appointment is made for that post.
Target’s board of directors said that “after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target.” The board added that Steinhafel has agreed to “serve in an advisory capacity” during the transition.
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