By and  on May 6, 2014

Time finally ran out for Gregg Steinhafel — and now Target has the tough task of finding a new chairman, chief executive officer and president in the midst of the retailer’s ongoing struggles.

Steinhafel, 60, stepped down Monday after six years in the top job and several months of speculation he might be pushed out, sending Target’s shares down 3.5 percent on the New York Stock Exchange to close at $59.87. They have slowly recovered from the damage done by disclosures of a massive data breach in December since hitting a 52-week low of $54.66 in midday trading on Feb. 4.

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