March
07
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Massive Data Breach Prompts Target CIO Resignation

Retail giant Target has accepted the resignation of Beth Jacob, their CIO and executive Vice President, in the wake of  the “massive data breach” of November of 2013 which resulted in one of the largest retail thefts in history, according to an article published on the Information Week website. The article indicates that Jacob was responsible for the retailer’s “computer systems and network“, which unfortuately “succumbed to hackers” during the event which “contributed to a 40% decline in the profit reported by the company last month.”

Regarding both the 2013 breach and the current search for a replacement CIO, Gregg Steinhafel, chairman, president and CEO of Target, was quoted in the article to say, “While we are still in the process of an ongoing investigation, we recognize that the information security environment is evolving rapidly. To ensure that Target is well positioned following the data breach we suffered last year, we are undertaking an overhaul of our information security and compliance structure and practices at Target. As a first step in this effort, Target will be conducting an external search for an interim CIO who can help guide Target through this transformation.

The article further confirmed that the retailer has put plans in motion to rework and redesign processes around their system infrastructure. Target’s CEO continued to state, as the article notes, that the organization is prepared to elevate “the role of the chief information security officer“, will be looking for a “chief compliance officer outside the company“, and will “invest $100 million to issue smart chip credit and debit cards and to equip its stores with the hardware to handle the technology.”

Read more about Target’s shake up in the full article and see what the retail giant plans to do to improve their overall security structure.

 

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