A billion here, a billion there - pretty soon it adds up to real money. ',Senator Everett Dicksen (1896-1969)" - 1 "279"
HACKED US RETAIL CHAIN Target is looking for a new CIO following the resignation of the one who was in charge when it had a huge data security breach.
Target, which tells us to 'expect more', but 'pay less', admitted to the data theft in December and in an open letter Target chairman, CEO and president Gregg Steinhafel was apologetic.
"Our top priority is taking care of you and helping you feel confident about shopping at Target, and it is our responsibility to protect your information when you shop with us," he said. "We didn't live up to that responsibility, and I am truly sorry."
The security breach, which Steinhafel said was shut down in January, affected possibly up to 110 million people. Initially the firm admitted that 40 million customers were affected, but eventually another 70 million were mentioned.
Few betting people would have put money on the CIO, Beth Jacob, remaining at the firm, but anyone who speculated that she might be on her way out could collect on their hunch today.
In a statement Steinhafel admitted that Target has parted with Jacob and will install someone else temporarily.
"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," he said.
"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."
Jacob has been with the firm since 1984 and started work in the buying department. She announced her resignation in a letter to Steinhafel.
The CEO confirmed the changes in a statement. "While we are still in the process of an ongoing investigation, we recognise that the information security environment is evolving rapidly," he said.
"We will also be elevating the role of the Chief Information Security Officer and hiring externally for this position." µ