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Target President and CEO Gregg Steinhafel speaks during an event announcing a holiday collection that partners Target and Neiman Marcus in New York, in this October 16, 2012 file photo. Target Corp said May 5, 2014, that Steinhafel is leaving in the wake of the devastating data breach late last year that hurt profits, shook customer confidence in the No. 3 U.S. Retailer and prompted congressional hearings. REUTERS/Keith Bedford/files

Target CEO Resigns After Last Year's Cyber Attack

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BOSTON/BANGALORE (Reuters) - Target CorpChief Executive and Chairman Gregg Steinhafel is leaving in the wake of the devastating data breach late last year that hurt profits, shook customer confidence in the No. 3 U.S. retailer and prompted congressional hearings.

"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 released on Monday.

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