GM Executive Named as Target Corporation’s Chief Information Security Officer (TGT, GM)

On Tuesday afternoon, Target (TGT) announced that it has hired on Brad Maiorano, a General Motors (GM) executive, to be the retailer’s chief information security officer – a newly created position.

Target detailed in December that the company had suffered a huge data breach, which resulted in 40 million credit card numbers and 70 million pieces of other customer information being stolen. The breach brought intense scrutiny to Target, and resulted in a number of executives leaving the company, including its CEO, Gregg Steinhafel.

Maiorano will start at Target on June 16, and most recently served as the chief information security and information technology risk officer at GM.

Target’s executive VP and CIO, Brad DeRodes, had the following comments on Maiorano’s hiring and new position: "Having led this critical function at two of the country's largest companies, Brad is widely recognized as one of the nation's top leaders in the complex, evolving areas of information security and risk. As an organization, we have made a commitment to our guests and our team that Target will be a retail leader in information security and protection. We believe Brad is the right person to lead that charge."

Target stock ended the day down 74 cents, or 1.28%

TGT Dividend Snapshot

As of Market Close on June 10, 2014

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