Connect with us

Business

Beth Jacob Resigns As CEO Of Target

Published

 on

Beth Jacob Resigns As CEO Of Target

Beth Jacob Resigns As CEO Of Target

Beth Jacob Resigns As CEO Of Target

Heads Continue to Roll at Target Over Impact of Massive Credit Card Breech

Minneapolis, Minnesota – The highest profile executive to date has stepped down from her post at Target Corporation as the fallout from their retailer’s massive credit card breech involving their Target RedCard continues to unfold. While it appears that the company has closed the security breech, which saw unsuspecting patrons get money lifted right out of their bank accounts via the RedCard debit cards, the impact was devastating. Many retailers make 50% of their annual earnings during the Christmas season and Target suffered badly as a result of the security breech which affected over 110 million people.

Now, Beth M. Jacob, an employee of 12 years and who was the president of Target Technology Services, has resigned her position at the company.

Translation: she was given the boot and allowed to fall on her sword gracefully.

It will be interesting to know what compensation package she walks away with as it is certainly going to be more than a two-week severance check. In her parting comments, Jacob expressed the difficulty she experienced leaving the company she enjoyed working for during the past 12 years. She then stated that it was a good time to leave. Really? What retailer will hire her with this national fiasco on her resume? It’s a good time for a career change.

—————————
Source:
Target Executive Resigns After Breach
http://www.nytimes.com/2014/03/06/business/a-top-target-executive-resigns.html?rref=technology&_r=0