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Wednesday May 6th, 2015 10:44PM

Target names new chief information officer

By The Associated Press
NEW YORK (AP) - Target says it has hired a new chief information officer to help overhaul its data security systems in the wake of a massive pre-Christmas data breach.

The Minneapolis-based discounter says Tuesday it named outsider Bob DeRodes, who has 40 years of experience in information technology. He will assume oversight of the company's technology team and operations, effective May 5.

DeRodes replaces Beth Jacob, who left in early March. Target says it is continuing its active search for a chief information security officer and a chief compliance officer.

The company also says that by early next year, its branded cards will have MasterCard's chip-and-PIN technology.

Target is still dealing with fallout from a breach that compromised 40 million credit and debit cards between Nov. 27 and Dec. 15.
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