Target looks to GM for new security role
By Anne D'Innocenzio for The Associated PressNews Retail target
Target Corp. has named Brad Maiorino as chief information security officer as the company overhauls its security department in the wake of a massive data breach.
The nation’s third-largest retailer, based in Minneapolis, said Tuesday that Maiorino will join the company Monday and be responsible for the company’s information security and technology risk strategy. He was General Motors Co.’ chief information security and information technology risk officer. Before that, he had a similar role at General Electric.
He will help ensure the retailer and its customers are protected against internal and external information security threats.
Maiorino will report directly to Bob DeRodes, who was named Target’s new executive vice-president and chief information officer in April. DeRodes, who has 40 years of experience in information technology, replaced Beth Jacob, who abruptly left in early March.
“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,” DeRodes said. “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.”
Before the overhaul, information security functions were split among a variety of executives.
Target, based in Minneapolis, has been overhauling its security department and systems in the wake of a data breach that has hurt profits, sales and its reputation among shoppers worried about the security of their personal data. Target is accelerating its $100 million plan to roll out chip-based credit card technology in all of its nearly 1,800 stores.
Target disclosed Dec. 19 that a data breach compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15. Then, on Jan. 10, it said hackers stole personal information – including names, phone numbers and email and mailing addresses – from as many as 70 million customers.
The personnel announcement was made the day before Target is scheduled to hold its annual shareholders meeting in Dallas.
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