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Target announces technology overhaul, CIO departure

06
Mar
2014

Target Corp announced an overhaul of its information security practices and the resignation of its chief information officer as the retailer tries to reassure customers and investors after a massive data breach late last year. CIO Beth Jacob is the first high-level executive to leave the company following the breach, which led to the theft of about 40 million credit and debit card records and 70 million other records of customer details. Jacob, who comes from a sales background and has been CIO since 2008, will be replaced by an external hire, Target said in an email to Reuters on Wednesday. The breach at Target was the second largest at a U.S. retailer, after the theft of more than 90 million credit cards over about 18 months was uncovered in 2007 at TJX Cos Inc, operator of the T.J. Maxx and Marshalls chains.

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