Tuesday, May 6, 2014

CEO steps down after customer data breach

Note: As you can see from the below, there are consequences to dated or no risk management strategy. Are you in charge of your company's IT or IP? Time to re-think your company's information risk management strategy? Contact me, I can help. ~JDL
Target's CEO has become the first boss of a major corporation to lose his job over a breach of customer data, showing how responsibility for computer security now reaches right to the top.
Gregg Steinhafel, who was also president and chairman, resigned nearly five months after Target disclosed a huge pre-Christmas breach in which hackers stole millions of customers' credit- and debit-card records. The theft badly damaged the chain's reputation and profits.
Steinhafel, a 35-year veteran of the company and chief executive since 2008, also resigned from the Board of Directors, Target announced Monday.
The departure of Steinhafel, 59, suggests the company wants a clean slate as it wrestles with the fallout. Two months ago, Target's chief information officer lost her job.
Steinhafel's resignation leaves a leadership hole at a time when the 1,800-store chain is facing many other challenges.

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