Equifax CEO steps down in wake of massive data breach – CNET

Equifax HeadquartersSmith Collection/Gado/Getty Images

Equifax CEO Richard Smith announced he is stepping down on Tuesday, the latest repercussion for the company following a massive cyberattack. 

The departure comes three weeks after the company initially announced the breach. As a credit monitoring service, Equifax holds data on nearly every single American who has a credit card or has applied for a loan. 

Smith oversaw Equifax as it was hit by a massive data breach that could touch nearly half the US population — up to 143 million Americans could be affected. The company said it had failed to patch a security flaw that dated back to March, which allowed hackers to break into its servers and steal millions of Social Security numbers, names and addresses. 

“The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right,” Smith said in a statement released to investors on Tuesday. “I believe it is in the best interests of the company to have new leadership to move the company forward.”