Nearly five months after suffering a huge data breach, Target announced Monday morning that Gregg Steinhafel, the company's CEO since 2008, had resigned.
Steinhafel, who worked at the company for 35 years, will be replaced by Chief Financial Officer John Mulligan.
Last December's data breach, which compromised the payment or personal data of more than 110 million customers, cost Target at least $61 million to fix, hurt holiday sales, and caused the company's credit rankings to be downgraded.
