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REUTERS

Target looks for new CIO in technology overhaul

March 5, 2014 - 10:56am

Beth Jacob Target

This undated image provided by Target Corp shows Chief Information Officer Beth Jacob. Jacob is resigning effective Wednesday, March 5, 2014, as the retailer overhauls its information security and compliance division in the wake of a massive pre-Christmas data breach.


(Reuters) — Target Corp. said Chief Information Officer Beth Jacob resigned and it would look externally for an interim CIO as the retailer plans an overhaul of its information security practices in the wake of a massive data breach late last year.

The third-largest U.S. retailer said last week customer traffic had started to improve after falling significantly at the end of the holidays when news of the cyber attack and theft of payment card data spooked shoppers.

Target Chief Executive Gregg Steinhafel said in an emailed statement that the company also plans to elevate the role of chief information security officer. The company will look externally to fill that position and that of chief compliance officer.

"We are also working with an external adviser, Promontory Financial Group, to help us evaluate our technology, structure, processes and talent as a part of this transformation," Mr. Steinhafel said.

The company's shares were down less than a percent at $60.85 in late-morning trading on the New York Stock Exchange.

 



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