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Steinhafel exits Target

John Mulligan appointed interim president, ceo.

Minneapolis – Target chairman, president and ceo Gregg Steinhafel is stepping down, effective immediately, the company announced this morning.

John Mulligan, cfo, has been appointed interim president and ceo.

In a statement, the board acknowledged the late 2013 data breach that compromised some 40 million card numbers and 70 million pieces of customer data.

“Most recently, Gregg led the response to Target’s 2013 data breach. He held himself personally accountable and pledged that Target would emerge a better company. We are grateful to him for his tireless leadership and will always consider him a member of the Target family,” the company said.

Steinhafel will serve as an advisor to the company as it transitions to new leadership.

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