What have you always wondered about the economy? Tell Us
Wikimedia Commons

Equifax dumps CEO in wake of damaging data breach

Marketplace Contributor Sep 26, 2017
Wikimedia Commons

NEW YORK (AP) — Credit reporting agency Equifax is ousting CEO Richard Smith in an effort to clean up the mess left by a damaging data breach that exposed highly sensitive information of about 143 million Americans.

The shake-up announced Tuesday comes after Equifax disclosed that hackers exploited a software flaw that the company didn’t fix to heist Social Security numbers, birthdates and other personal data that provide the keys to identify theft.

Smith had been Equifax’s CEO since 2005. Paulino do Rego Barros Jr. was named interim CEO.

Although many analysts had applauded Equifax’s performance under Smith, he and the rest of his management team had come under fire for lax security and its response to the breach.

Smith’s departure follows the abrupt retirement of Equifax’s chief security officer and chief information officer.

 

 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.