Cybersecurity
Target CEO Ouster Shows New Board Focus on Cyber Attacks: Retail
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Chief executive officers beware: Data breaches can now cost you your job.
Yesterday Target Corp.’s board ousted CEO Gregg Steinhafel in the wake of a hacker attack that compromised the personal data of millions of shoppers during the holiday season. Steinhafel’s main error was to move too slowly in shoring up the chain’s defenses even after being warned that point-of-sale terminals were vulnerable to cyber criminals.