under his leadership,the company has not only enhanced its ability to execute, but has broadened its strategic horizons,"Target noted in in a statement. "He also led the company through unprecedented challenges, navigating the financial recession, reacting to challenges with Target's expansion into Canada, and successfully defending the company through a high-profile proxy battle.
Ultimatelt,however,it was the December 2013 data breach that painted a target on Steinhafel’s back.
He held himself personally accountable and pledged thet Target would emerge a beter company , Target stated.
Just last week,steinhafel was qubicly active in in his efforts to move target forward with new security initiatives. Ironically,while today Steinhafel is stepping down as Targe”s CEO it is also the day that the company’s new CIO, Bob DeRodes,officially starts. DeRodes replaces former Target CIO Beth Jacob, who resigned her post on March 5 as part of the brach fallout.
Target also recenthy announ that it will be accelerating the move to chip and pin credit card technology .magnetic stripe-based credit card do not provide the same level of security and fraud protection as chip and pin-based credit card, which are already widely deployed outside of the united states. Starting in 2015, target’s redcrd-branded credit card will include master chip and PIN technology.
Under steinhafel’s leadership, target has also taken other steps to improve its security, including resetting the passwords for 445,000 target team members and tightening up syatem access overall.