Breach

Target hires new CISO, shareholders spare board

June 11, 2014

Target named Brad Maiorino as a senior vice president and its first-ever CISO last night on the eve of an annual shareholders' meeting where voters snubbed Institutional Shareholders Services' recommendation to ditch seven of the company's 10 board members.

Maiorino, previously head of global information security at General Motors, will assume the newly created role on Monday, according to a company statement.

The CISO hire follows a restructuring of retailer's upper echelons, which included the resignation of Target's CEO last month and the hiring of CIO Bob DeRodes, in the aftermath of a costly data breach and flagging Q1 financials, attributed partly to the company's poor showing in Canada.

Target's profits fell 21 percent in Q1. The company's interim CEO recently said it doesn't have a firm fix on how much the breach has cost. Maiorino will report to DeRodes.

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