Big Changes in Wake of Target Security Breach

Target Data BreachTarget has taken the next step in its recovery from last year’s massive credit card security breach by appointing a new chief information officer and announcing big changes to its customer loyalty cards.

Bob DeRodes will step into the CIO role on May 5. His hiring illustrates the retailer’s push to regain consumer confidence after 70 million customers had their confidential information compromised – DeRodes has acted as an advisor to the Department of Justice, the Secretary of Defense and the Department of Homeland Security.

“Establishing a clear path forward for Target following the data breach has been my top priority,” Target CEO Gregg Steinhafel said in the statement. “Target has a tremendous opportunity to take the lessons learned from this incident and enhance our overall approach to data security and information technology.”

The store will also be introducing EMV cards that feature Chip-and-PIN technology. Partnering with MasterCard, Target’s REDcards will now run on the New-York based Purchase network. Customers will be required to enter a PIN number when using their card.

*Source: Bloomberg