Home Depot CEO Frank Blake addressed the company’s possible credit card breach for the first time today, although he refused to confirm wether an actual breach officially occurred. At an investor conference, he said the do-it-yourself retailer learned about the potential breach Tuesday morning and has been “working around the clock to find the breach.”
According to the Wall Street Journal Blake says cybersecurity is a major issue for the company and that it has invested in new credit-card terminals at cash registers that take credit and debit cards embedded with computer chips, which are safer than those with traditional magnetic strips because they create unique codes for each transaction. He says it hasn’t yet activated the chip-reading technology on its terminals but will do so by the end of 2014. For the full Wall Street Journal story, click here.