Tag Archives: John Mulligan

Target Q1 Net Falls 16 Percent

Target

MINNEAPOLIS-Target’s first quarter ended with a 16 percent drop in net income, to $418 million, as the mass merchant slowly deals with the data-breach scandal and the departures of two top-level executives. On May 5, Gregg Steinhafel resigned as chairman, president and CEO, in the wake of the hacking of credit-card information of Target customers,More »

Steinhafel Steps Down as Target Chief

Gregg Steinhafel

MINNEAPOLIS-Gregg Steinhafel, Target’s chairman, president and CEO, has resigned effective today, ending his 35-year career with the retailer. A statement from the Target board of directors, issued today, said Steinhafel and the board mutually agreed to end his tenure after “extensive discussions.” A letter written by Steinhafel to the board obtained by HFN said heMore »