Target's First Casualty was Trust

Did you know that Target's sales were off by 40% in the fourth quarter of last year?  This all had to do with the breach of their IT systems and theft of credit card information from their customers.

 

Fortunately for them from a financial standpoint they did have some insurance to cover some of their losses.  But, there is little that can replace the loss of trust that customers have in shopping at Target.  Today that loss of trust and decline in revenues took another "victim" Target announces technology overhaul, CIO departure  

 

One really surprising statement from the above story was, "Jacob, who comes from a sales background and has been CIO since 2008, will be replaced by an external hire ..."  My highlight.  Hard to believe that in this large a company they would have a non-techie in charge of technology.  There is too much specialization around to have someone who can't smell trouble being in charge of technology in today's tech world.  My opinion anyway!