Equifax’s CEO Is Stepping Down in the Wake of the Massive Data Breach
Following the massive security breach at the company, the CEO of Equifax is stepping down.
Earlier this month, the credit reporting agency disclosed that a hack had endangered the personal information of 143 million US-based users — an incident that has triggered a swell of criticism toward the company.
In a statement, the now-former CEO Richard Smith called serving in the job an “honor.” He had worked in the position since 2005.
“The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right,” Smith said in the statement. “At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward.” The company says it has installed an interim CEO, Paulino do Rego Barros, Jr., as it searches for a permanent replacement.
Smith’s departure followed two other executive exits. On Friday, Equifax said its chief information officer and chief security officer were also stepping down.