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Target President and CEO Gregg Steinhafel resigned Monday as the retailer continues to recover its image nearly five months after a massive holiday-season data breach.

Today we are announcing that, after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target, a company statement posted on its website Monday morning says.

John Mulligan, Target's chief financial officer, has been appointed as interim president and chief executive officer.

Steinhafel, a 35-year veteran of Target, will serve in an advisory capacity during the transition.

Target said in December that hackers stole credit and debit card information on tens of millions of customers.

The Associated Press contrib

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