Beleaguered Equifax CEO “Retires”, Gets $18M Parting Gift

It’s hard to imagine how Rick Smith, now the former CEO of Equifax earned his $18-million parachute after overseeing a data breach of half of America and when every week there was a damning story about the organization’s boast of it’s security mettle or ruthless drive to acquire more data but hey, them’s the breaks. (Seriously, the more that came out the more you wondered: just what does it take for a guy to lose his job).

Anyway, Atlanta-based Equifax announced a few minutes ago that Smith is “retiring” as CEO. Which on the one hand is true: his career is likely finished. However, methinks it wasn’t voluntary.

Taking over on an interim basis is┬áPaulino Barros. Equifax chairman Mark Feidler could muster only a pathetic statement of: “speaking for everyone on the Board, I sincerely apologize” for what he calls “the cybersecurity incident.”

Well no one will accuse Feidler or Equifax of overstating things, that’s for sure.

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