Equifax CEO Resigns After Huge Data Breach

AG Healey Signs On To Consumer Credit Protection Bill In Wake Of Equifax Breach

The Equifax CEO's retirement will also have him leaving behind the role Chairman of the Board. We are working intensely to support consumers and make the necessary changes to minimise the risk that something like this happens again. "On behalf of the Board, I express my appreciation to Rick for his 12 years of leadership", Feidler commented. He added that the board had formed a special committee to focus on issues stemming from the breach.

"The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right".

The move follows a personnel change almost two weeks ago, in which two high-level Equifax officials stepped down as the agency investigated how hackers infiltrated files that contained people's names, Social Security numbers, addresses, among other sensitive information available on a credit report.

Smith may not be the last senior leader whom the board will have to replace. He is set to appear at a Senate Banking Committee hearing next week, where is the only executive set to testify.

CNN Money reported today that "Smith has built a fortune with his Equifax holdings".

Smith will not receive his annual bonus, and Equifax intends to conduct an independent review of the data breach before awarding any of his potential retirement-related benefits. Mark Feidler will serve as non-executive chairman.

The company said credit card numbers were also compromised for 209,000 USA consumers, as were credit dispute accounts for 182,000 people.

Its chief financial officer John W. Gamble Jr., sold $1.8 million in Equifax shares just a few days after the company learned about the breach, but weeks before it was announced to the public.

Equifax CSO David Webb and CIO Susan Mauldin also retired shortly after this incident.

The lawsuit is seeking restitution for affected consumers in California who purchased credit monitoring services from Equifax before September 7, 2017.

The statement from Herrera's office accused Equifax of failing to implement and maintain reasonable security procedures and practices, not providing timely notice of the data breach to affected users in California and giving incomplete information when the disclosure was finally made.

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