Equifax Fills CEO Slot After Six-Month Vacancy

March 28, 2018, 3:10 PM UTC

Six months after Richard Smith suddenly stepped down as CEO of Equifax, the company has a new leader.

Mark Begor has been named CEO of the credit reporting bureau, and inherits an ongoing public relations and image problem. He will officially start the job on Apr. 16.

Begor inherits a company that is still viewed skeptically by consumers after it exposed the data of more than 145 million people by not patching a known vulnerability in its software.

Paulino do Rego Barros, Jr., who has served as interim CEO since Smith’s departure, will assist with the transition and leave the company in 2019.

Begor previously spent 35 years with General Electric and most recently served as managing director at Warburg Pincus.

“I am excited to take the helm of Equifax at such a pivotal moment in the company’s history,” said Mr. Begor. “I will prioritize continuing our team’s efforts to communicate transparently and restore confidence with consumers, customers, shareholders, and policymakers. And most critically, we will continue to invest in and strengthen our IT and data security. As a custodian of consumer and customer information, protecting that data is a central priority for Equifax and for me personally.”

Smith retired last September, walking away with a pay day worth up to $90 million. That departure was hastened by a speech he gave after the breach saying security issues were his biggest concern—after the database had been hacked.

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