LONDON (ShareCast) - (ShareCast News) - The chief executive of embattled Equifax has announced his departure from the credit scoring company with immediate effect following the massive data breach that potentially compromised sensitive personal and social security details of millions of consumers.
CEO and chairman Richard Smith will be replaced temporarily by Paulino do Rego Barros, who most recently served as president at Equifax's Asia Pacific division and is a seven-year veteran of the company, while they looked for a permanent replacement.

The company said that Smith had agreed to serve as an unpaid advisor to Equifax to assist in the transition.

Meanwhile, current board member Mark Feidler was appointed to serve as non-executive chairman of the company.

Emphasising the company's concern about the cybersecurity incident, Fiedler stated: "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."

For his part, Smith said it was in the "best interests" of the company to have new leadership following the incident.

"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."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE