Less than two weeks after the top security individuals at Equifax “retired” after what may have been the biggest hack in U.S. corporate history, moments ago the company announced that the exodus from the sinking ship continued when company Chairman and CEO, Richard Smith, has also retired effective immediately. The Board also said it had appointed current Board member, Mark Feidler, to serve as Non-Executive Chairman, while Paulino do Rego Barros, Jr., who most recently served as President of Asia Pacific has been appointed as interim Chief Executive Officer, succeeding Smith
Commenting on the resignation, the company’s non-executive Chairman Mark Fielder said that “the Board remains deeply concerned about and totally focused on the cybersecurity incident. 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.”
It is unclear if Smith’s retirement clears him and any others of potential insider stock sales that may have taken place during the time when the company was aware of the data breach, which was only disclosed to the public some three weeks ago.
From the press release:
