Target CEO explains chief tech officer’s departure

While we are still in the process of an ongoing investigation, we recognize that the information security environment is evolving rapidly. 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. 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. We will also be elevating the role of the Chief Information Security Officer and hiring externally for this position. Additionally, we will be initiating an external search for a Chief Compliance Officer. We are also working with an external advisor, Promontory Financial Group, to help us evaluate our technology, structure, processes and talent as a part of this transformation.