Target Corp. said Tuesday it has hired Brad Maiorino as senior vice president, chief information security officer.
This story first appeared in the June 11, 2014 issue of WWD. Subscribe Today.
Maiorino, whose appointment is effective Monday, will be responsible for the retailer’s information security and technology risk strategy to help ensure that the company, its customers and employees are protected from security threats, both internal and external. He will report to Bob DeRodes, executive vice president and chief information officer.
Maiorino was previously chief information security and information technology risk officer at General Motors, responsible for leading the transformation of GM’s global information security and IT risk organization. Before joining GM, Maiorino was chief information security officer of General Electric.
“Having led this critical function at two of the country’s largest companies, Brad is widely recognized as one of the nation’s top leaders in the complex, evolving areas of information security and risk,” said DeRodes. “As an organization, we have made a commitment to our guests and our team that Target will be a retail leader in information security and protection. We believe Brad is the right person to lead that charge.”
The appointment comes after a massive data breach that occurred between Black Friday and Dec. 15. Target initially said 40 million shoppers in U.S. stores potentially had credit or debit card information stolen. Target later learned that another 70 million consumers may have had their names, addresses, e-mail addresses and/or phone numbers taken.
Target’s executive vice president and chief financial officer John Mulligan testified about the data attack before the U.S. Senate Judiciary Committee at a hearing in February. In a separate action, a group of House Democrats was seeking information from Target’s then-chairman, president and chief executive officer Gregg Steinhafel as the House Energy & Commerce Committee prepared to hold its own hearing into the security breach, also in February.
The Minneapolis-based retailer was criticized for not being more transparent and for moving too slowly in disseminating information. Some retail experts believe the breach may have cost Steinhafel his job, although there were other factors, such as Target’s disappointing launch in Canada. Steinhafel resigned in May. Beth M. Jacob, chief information officer and executive vice president for technology services, was the first executive to depart following the breach; she resigned in March.
Target’s stock was also impacted by the data breach. Shares have slowly recovered from the damage done by disclosures of the breach, hitting a 52-week low of $54.66 on Feb. 4.