Target Is Cleaning House but the Stock Is Still Tainted

NEW YORK (TheStreet) -- It's been nearly six months and heads are still rolling in the aftermath of Target's (TGT) data breach, which exposed the personal information of roughly 70 million customers. The latest is today's firing of Tony Fisher, the president of the company's Canadian operations.

This data breach didn't have to happen had the company followed some routine protocols. It will have a lot to do to regain the trust of shoppers and investors.

Target, whose shares trade around $57, down 10% for the year to date, was not the only retailer hacked. TJX Companies (TJX) lost more than $250 million when 45 million accounts were breached over 18 months starting in 2006 through insecure firewalls. Thieves accessed TJX's WiFi and servers. Target's breach has since eclipsed that of TJX and has resulted in the resignation of CEO Gregg Steinhafel.

Fisher, the most recent head to roll, will be replaced with Mark Schindele, who served as vice president of merchandising operations. The company said the changes are effective immediately.

Although new to the role, Schindele has been instrumental in developing target's new store formats including Target Express and CityTarget in the U.S. His ideas has since been adopted by Walmart (WMT), which has begun to grow its so-called neighborhood stores.

Schindele has also led a global team and provided senior-level oversight to Target's merchandising operations, including systems, global sourcing and product development. So the company is in good hands. But the company is not done.

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