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St. Paul, Minn.

Q&A with Howard Davidowitz

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The Target corporation is looking for a new Chief Executive Officer. The company announced this morning that Gregg Steinhafel has resigned from that position.

•More: Target CEO is out following credit card breach; stock drops

Chief Financial Officer John Mulligan will be the interim CEO until a new leader is chosen. Shares of Target stock fell 3.5 percent today after the news was announced.

Steinhafel started with the company as a merchandising trainee in 1979 and rose through the ranks. He became CEO in 2008. Recently the company has faced a number of challenges included a massive data breach last year and disappointing sales in its new Canada division.

Retail analyst and consultant Howard Davidowitz spoke with MPR News' Tom Crann about Gregg Steinhafel's time at Target.