Target CEO Says He Is Sorry About Security Breach

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Target

In an interview with CNBC on Monday, Target Corp. (NYSE:TGT) CEO Gregg Steinhafel assured that Target is in the process of making “significant changes” to its operations after a huge security breach that has left the information of 70 million Target customers vulnerable.

On Friday, Target released an update about the breach, which first came to light on December 19 and hit the retailer in the middle of the crucial holiday shopping season. In the announcement, Target increased the number of customers it believes were affected by the massive hack. It was already confirmed that the credit card information of 40 million customers had been compromised. On Friday, Target said that 70 million names, mailing addresses, phone numbers, or email addresses were stolen as well.

“Clearly, we’re accountable and we’re responsible. But we’re going to come out at the end of this a better company. And we’re going to make significant changes,” Steinhafel told CNBC, without elaborating on what exactly those changes would be. “I’m personally very sorry that this whole event even happened.” When asked if the retailer is expecting to announce an even higher figure for the number of people whose information was compromised as the investigation continues, Steinhafel said, “We’re very confident that our safe — that our environment is safe and secure. And we have no evidence that there’s any other guest information that — was removed from our — environment.”

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business