CEO of Equifax Takes Early Retirement with More than $18 Million in Benefits
Smith called the breach "a disappointing event."
NATIONAL — The CEO of Equifax announced he is retiring early, just weeks after the company put the financial futures of 143 million Americans at risk and just days before he is set to appear before Congress.
Richard Smith, who has held the CEO position since 2005, is stepping down and joining other senior managers who have left the company in the wake of what is being called the worst breach of a company’s secure information ever.
The breach of private data was discovered in July, but was not disclosed until September.
Smith called the breach “a disappointing event.”
He will still have to appear before Congress and won’t receive a bonus for the 2017 fiscal year.
He does have more than $18 million in retirement benefits and may also receive lifetime health coverage.