Target's new CEO could come from outside the retail giant's inner circle.
According to Bloomberg, the company has collaborated with recruitment firm Korn Ferry to find its next leader.
The executive vice president at Kotter International told Bloomberg that people would be more comfortable with an outside choice.
"They really need to restore some confidence, and I don't think anyone is going to have any confidence in someone from inside, even though that's their culture to promote from within," Kathy Gersch said. "They need someone known for their integrity to really help boost shareholder confidence in the brand."
Former Target CEO Gregg Steinhafel resigned from his position on Monday. This news is the second major development for the company since a security breach affected millions of customers last year.
According to a company press release, chief financial officer John Mulligan will replace Steinhafel.
"The last several months have tested Target in unprecedented ways," Steinhafel said in a letter to company board of directors. "We have already begun taking a number of steps to further enhance data security, putting the right people, processes and systems in place. With several key milestones behind us, now is the right time for new leadership at Target."
Internet security veteran Bob DeRodes was previously appointed as the company's new chief information officer. DeRodes began work Monday, and will take charge of Target's technology division, along with operations. He was selected to create the retailer's future information technology and digital plan.
"I look forward to helping shape information technology and data security at Target in the days and months ahead," DeRodes said in a statement. "It is clear to me that Target is an organization that is committed to doing whatever it takes to do right by their guests."
Hackers reportedly took forty million credit and debit account numbers from Target customers between Nov. 27 and Dec. 15, 2013 according to a company press release. The incident spanned Target stores throughout the United States, according to Krebs on Security.
Affected customers received a 10 percent discount and a year's worth of credit monitoring and identity theft protection.
Kotter International is a leadership and strategy group.
