Target hires new security chief from General Motors after data breach
Target Corp. is hiring an IT expert from General Motors Co. to beef up its data security following a massive breach that continues to weigh on its reputation.
Brad Maiorino will head up technology risk and information strategy, a newly created position.
It’s the latest move by Target to tighten security over its huge amount of shopper data. The Minneapolis company has increased monitoring of accounts and implemented new safeguards at its point-of-sale systems.
GM is in the middle of a far more serious crisis stemming from faulty ignition switches that have been blamed for the deaths of at least 13 people. The automaker has dismissed 15 employees and is facing numerous lawsuits.
Target, the nation’s third-largest retailer, has been struggling with the fallout from its disclosure in December that hackers stole credit and debit card information from tens of millions of customers.
Its revenue dropped 5% in the crucial fourth quarter and its chief executive, Gregg Steinhafel, stepped down last month. That followed the exit of Beth Jacob, the retailer’s former chief information officer.
The breach has hastened the adoption of more secure payment card technology among U.S. retailers, which have lagged behind counterparts in Europe and other countries.
Warehouse retailer Sam’s Club announced this month that it will roll out a credit card with an embedded microchip to prevent fraud. Target will also offer branded credit and debit cards that come with chip-and-pin technology starting next year.
Maiorino will join Target on Monday.
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