Equifax CEO Richard Smith is out after stunning data breach

[Eugene]

Source: CNNMoney

Equifax CEO Richard Smith is out after the company's embarrassing data breach and botched response.

The credit reporting bureau announced Smith's sudden retirement on Tuesday, three weeks after it disclosed that the hack had compromised the personal information of as many as 143 million Americans.

Smith, 57, had been CEO for 12 years. His retirement is effective immediately.

"At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward," Smith said in a statement.

-snip-

by Matt Egan
September 26, 2017: 10:33 AM ET


Read more: http://money.cnn.com/2017/09/26/investing/equifax-ceo-richard-smith-out/index.html

[PSPS]

1. And how big is his golden parachute?

[WhiteTara]

2. He should be required to forfeit it.

[CountAllVotes]

4. 'effer belongs in jail

Corporate criminal destroying the lives of many Americans.

Seems the main targets are those with lots of money and large savings accts.

I do not see how they can hack a CD as the money is tied up.

Everything else is up for grabs and I do not see how hiring yet another credit monitoring company like Life Lock will help -- could jut add to the problem. How good is their reputation and what does this cost?

I think all affected should get a settlement via a gigantic class-action suit, like $1,000,000 for every person that has been compromised!

& recommend!

[snooper2]

5. LOL

what medium are you using to post here?

[Hieronymus]

9. Nearly $18.4 Million.

[Calista241]

11. NPR said he was forgoing his bonus for 2017, and would be an unpaid consultant

For 90 days to the new CEO.

But, he’s still serving as Chairman of the Board, of course.

[Bengus81]

12. My first thought. Retiring at 57

No guilt admitted no nothing. Just the usual BIG ASS pay off in the millions of $$$ and everyone else gets screwed. Those asshats should NEVER be allowed to have personal info on anyone.

[bluedigger]

3. I hope he had time to furnish all his homes first.

[packman]

6. Love it - Only in Corporate America

Screw up big time - get a huge ( I would bet) go-away package

[FSogol]

7. I think we all know Trumpy's future pick for Federal Reserve Chairman.

[Midnight Writer]

8. Oh my! I hope he is able get by. Has he set up a Gofundme page?

[Kablooie]

10. He decided he'd let the next CEO shoulder the blame and manage the cleanup.

While he retires in style.