Target CEO Gregg Steinhafel has resigned as of today, leaving Target (TGT) still trying to right itself after a massive data breach that rocked consumer trust in the nation’s No. 3 retailer.
Target named Chief Financial Officer John Mulligan as interim president and CEO.
Target board of directors member Roxanne Austin will serve as interim non-executive chair of the board.
“After extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target,” Target’s board said in a statement.
Target is looking for a fresh CEO to lead the company forward after a tough year.
In December, Target admitted to a cyber attack in which some 40 million payment card numbers and 70 million other pieces of customer data were stolen.
TGT stock is down 14% from last year.