Target Security Scandal Reaches the Top As CEO Steps Down

Target-Rain

Over the weekend, Target finally realized that the only way to present a fresh face to the world after history’s biggest consumer security breach was to go all the way to the top: CEO Gregg Steinhafel officially stepped down this morning.

As the company’s board of directors put it in an official statement:

“…after extensive discussions, the board and…Gregg Steinhafel have decided that now is the right time for new leadership at Target.”

While the decision makes sense, it’s unfortunate to learn that a guy who spent nearly 30 years working his way up the ladder ultimately felt the need to fall on his own sword.

It wasn’t a particularly surprising move, though: VP/CIO Beth Jacob resigned in March, and last week’s hiring of her replacement–along with the announcement of a new, more secure system to process customers’ cards–hinted at a large-scale realignment.

The

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