Jacob, Target CIO, Resigns
MINNEAPOLIS-In the wake of the company's efforts to resolve the breach into millions of customers' credit-card information, Beth Jacob, Target's executive vice president of technology services and chief information officer, has resigned, effective yesterday.
A statement sent by the retailer to HFN, from Gregg Steinhafel, chairman, president and CEO, said Target will begin an external search for an interim chief information officer. "To ensure that Target is well positioned following the data breach we suffered last year, we are undertaking an overhaul of our information security and compliance structure and practices at Target," Steinhafel said.
He added that Target will be elevating the post of chief information security officer and will hire externally to fill this role. The company will also begin an external search for a chief compliance officer, and is now working with Promontory Financial Group, which advises companies on regulatory concerns, to help evaluate its technology, structure, processes and talent as part of this transformation, Steinhafel said.
In her resignation letter, Jacob said, "This is a difficult decision after 12 rewarding years with the company I love. But this is a good time for a change.
"One of the greatest opportunities this has afforded me was the honor to work with so many dedicated Target team members, both in the U.S. and India," she added. "I will always be proud of our global collaboration and our meaningful contributions to helping Target deliver on its Expect More. Pay Less brand promise and achieve its strategic and financial goals."