Equifax CEO Richard Smith Announces Retirement

(RTTNews) - Equifax Inc. (EFX) Tuesday announced that its Chairman and Chief Executive Officer Richard Smith will retire on September 26, 2017. He will continue as unpaid adviser for the smooth transition. The company has been facing a tough time after a security breach since March.

Mark Feidler will serve as non-executive chairman while Paulino do Rego Barros, Jr., will be the interim CEO. Fiedler, a partner and co-founder of Msouth, has been serving as an independent director for Equifax since 2007. Paulino Barros most recently led the company's Asia-Pacific business, and has served U.S. Information Solutions business.

The Board said it will consider candidates both from within and outside the company for the permanent post of CEO.

Smith said, "The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right. At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward."