Canada woes, breach seen as cause for Target CEO's exit
Target CEO Gregg Steinhafel's resignation Monday as president, CEO and chairman of the Board of the company likely isn't a sign that boards of directors are now holding chief executives accountable for massive data breaches.
While some observers quickly linked Steinhafel's exit with the breach, his departure likely has more to do with Target's botched expansion in Canada, analysts said.
"The breach may have been the straw that broke the camel's back," said Avivah Litan, an analyst with Gartner. "But I can't imagine him taking the fall just because of the breach. The board probably wanted him to leave because of poor financial performance" in Canada, she said.
