To its credit, the company seems to have been attacking the problem on all fronts since the breach first occurred last year, and now it’s ready to begin the rollout.
The move comes in stages: last month the company’s VP, who had been in charge of its website and internal computer systems since 2008, “resigned” (quotations ours).
At that time, the company also announced its decision to replace its existing card security tech with a system called “chip and PIN”. Last night brought the official update: Target hired a new chief information officer, who will oversee the implementation of this new security strategy.
Interestingly, said feature is already common among European retailers–but the move will cost $100 million and require the company to install new terminals and remake those famous branded cards, so of course things have been moving very slowly.
The company’s new CIO Bob DeRodes sums it up in the Q&A-style press release:
“I see this as a tremendous opportunity to join a wonderful team and the best brand in retail – one that took a tough hit last year but has shown that it is committed to making it right. “
Experts offer differing opinions on whether these announcements amount to a panacea or a simple reputation campaign, but if Target’s move inspires other U.S. retailers to beef up their security systems then it can only be a good thing.