The chief information officer at Target (NYSE:TGT), Beth Jacob, has resigned, becoming the latest domino to fall in a story that began late last year with a data breach of Target's systems, which caused the financial information of 40 million customers to be compromised.
In the lead story from Wednesday's edition of Investor Beat, host Chris Hill and Motley Fool analysts Bill Barker and Jason Moser discuss the move. While it wasn't necessarily unexpected, this may now increase the pressure on CEO Greg Steinhafel. Jason notes that with credit card fraud on the rise globally and particularly in the United States, Internet security will need to be a top priority for the company going forward. Bill and Chris also mention that with the continued struggles related to this story emerging so slowly over time for the company, market confidence in the stock is taking more damage than it would have, as consumers continue to see concerning news around Target in the headlines.
Bill Barker has no position in any stocks mentioned. Chris Hill and Jason Moser own shares of Amazon.com. The Motley Fool recommends and owns shares of Amazon.com. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.