Shares of Target are slipping on Monday after the retailer announced its chairman and chief executive Gregg Steinhafel is stepping down, five months after the massive customer data breach that took place in December. The breach had resulted in the theft of at least 40 million payment card numbers and 70 million other pieces of customer data. Steinhafel will be replaced by Target chief financial officer John Mulligan, who will serve as interim president and CEO until a replacement is found.
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