Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers. Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn’t put a dollar amount on the deal.
Target Corp. reported a loss in its fourth quarter, dragged down by costs to end its money-losing foray in Canada. But the discount retailer recorded strong sales as shoppers bought more clothing and other items over the holiday period.
Target has fired the president of its troubled Canadian operations, Tony Fisher, and is replacing him with a 15-year U.S. company veteran. The executive shakeup in Canada comes two weeks after the abrupt resignation of Target’s CEO and Chairman Gregg Steinhafel.
Former Target CEO Gregg Steinhafel’s total pay fell 35 percent to $13 million in his last year at the helm as the company’s board revamped compensation plans amid complaints from shareholders that he was paid too much, according to a regulatory filing.
Earlier this week Target’s CEO Gregg Steinhafel stepped down after the massive data breach that occurred last fall. Target named an interim CEO, John Mulligan, a Wisconsin native and University of Minnesota alumnus. Mulligan graduated from Regis High School in Eau Claire in 1983.
It’s not yet clear exactly how much newly resigned Target CEO Gregg Steinhafel stands to make from his severance package, but analysts say it could be anywhere from $9 million to $55 million. Target is expected to release its latest proxy statement this month.
Target’s massive data breach has now cost the company’s CEO his job. Target announced Monday that Chairman, President and CEO Gregg Steinhafel is out nearly five months after the retailer disclosed the breach, which has hurt its reputation among customers and hammered its business.
The CEO of Target Corp. steps down. Dave Lee discussed it this morning….for those interviews and others, CLICK THE LINK ABOVE.
The CEO of Target is finally speaking out after the massive security breach that impacted millions of Americans over the holidays. He’s defending Target and how the company has handled the breach, and said the company is working now to gain back the trust of many shoppers.
Target is apologizing to customers for its widespread data breach by offering a discount to everyone this weekend. But on Saturday, some of the emails customers received may have been part of a phishing scam. According to the Wall Street Journal, fake emails were sent out Saturday that looked close to the real ones. But instead of linking people to credit bureau websites, the sites were fraudulent.
Potential victims of credit card fraud tied to Target’s security breach said they had trouble contacting the discounter through its website and call centers.
Target says about 40 million credit and debit card accounts may have been affected by a data breach. The chain said Thursday that the accounts may have been impacted between Nov. 27 and Dec. 15.
Second to the cart, the smartphone might be the most common shopping accessory.
Shoppers might be excited about Black Friday deals, but there are plenty of protesters, too.
Thousands of people are signing an online petition created by a California Target employee to give back Thanksgiving.