ATLANTA – The CEO of Equifax is out.
The company’s board announced that Richard Smith’s last day on the job was Sept. 26. His departure, which the company called a “retirement,” comes as the credit bureau wrestles with the fallout from news its systems had been breached and personal information on 143 million Americans had become available to hackers.
Smith was among executives at the company who sold stock in Equifax before publicly announcing the breach.
Paulino do Rego Barros, Jr., who most recently served as president, Asia Pacific, and is a seven-year veteran of the company, has been appointed as interim chief executive officer, succeeding Smith. Equifax said it has launched a search for a full-time CEO.
The Equifax board also announced it has appointed current board member, Mark Feidler, to serve as non-executive chairman.
"The board remains deeply concerned about and totally focused on the cybersecurity incident,” said Feidler. “We are working intensely to support consumers and make the necessary changes to minimize the risk that something like this happens again. Speaking for everyone on the board, I sincerely apologize. We have formed a special committee of the board to focus on the issues arising from the incident and to ensure that all appropriate actions are taken."
As CUToday.info reported here, Smith had been expected to testify before Congress on the breach. There was no announcement on whether he will still represent the company at hearings that are set for early October in both the House and the Senate.
NAFCU will also be hosting a free webcast on the Equifax breach with information on how CUs can prepare for the aftermath. More information can be found here. http://cutoday.ssd.thinkcreativeinternal.net/Fresh-Today/NAFCU-To-Host-Free-Webcast-On-Equifax-Breach