It was reported yesterday that Richard Smith, chief executive and chairman of Equifax, has resigned from his post at the credit rating agency.
A statement from the company revealed that Smith is stepping down to retire after 10 years of service in Equifax. He is replaced by Paulino do Rego Barros, who held the position of Asia-Pacific president for the company.
The news comes 2 weeks after the agency revealed a hack earlier this year that affected 143 million people. Smith’s termination agreement stated the ex-executive will not have this year’s annual bonus. Smith received $1.45M in 2016 and an added $3.04M from bonuses.