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Target Executive Resigns After Credit Card Data Breach

/ Source: CNBC.com
Image: Target's chief information officer has resigned following the massive credit card security breach at the retailer.
A Target store in Watertown, Massachusetts. On Wednesday, Target's chief information officer resigned following the massive credit card security breach at the retailer.Steven Senne / AP file

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A senior executive at Target has resigned following the massive credit card data breach at the retail giant.

Chief Information Officer Beth Jacob, who had been in the post since 2008, stepped down effective Wednesday, the company said.

Target's chief information officer has resigned following the massive credit card security breach at the retailer.
A Target retail store in Watertown, Mass. Target's chief information officer has resigned following the massive credit card security breach at the retailer.Steven Senne / ASSOCIATED PRESS

In a statement, Target's Chairman, President, and CEO Gregg Steinhafel said the retailer is overhauling its information security and compliance structure. The company originally said a data breach compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15. Then on Jan. 10, it said hackers also stole personal information - including names, phone numbers as well as email and mailing addresses - from as many as 70 million customers

"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," Steinhafel said.

As part of this transition, the company said it is working with an external adviser to help evaluate its technology.

Target is still grappling with the fallout of the theft. The company said last week that its profit for the fourth quarter fell 46 percent on a revenue decline of 5.3 percent as the breach scared off customers.

- The Associated Press contributed to this report.

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