Home Depot CEO Blake says breach investigation continuing

Home Depot leader Frank Blake made his first public remarks early Thursday about the company’s potential data breach at a Goldman Sachs conference in New York.

Blake said the company had two choices after learning Tuesday that it may have been hacked: wait to discuss what may have happened or get the facts out as they become available.

“We chose the latter path,” Blake, Home Depot’s chief executive officer, told attendees of Goldman Sachs’ 21st Annual Retailing Conference.

The Atlanta-based home improvement giant is investigating a security breach that experts say could be more massive than the one during the holidays last year at retailer Target because of Home Depot’s larger size. Target reported that its breach cost the company an estimated $148 million.

Hoping to get out in front of the story, Home Depot on Wednesday posted information on its website that told customers they would not be responsible for charges made on their credit cards if a breach is confirmed, and that it would pay for customer credit monitoring if there was a breach.

“We felt the best thing for us to do is to communicate quickly and transparently,” Blake said.

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