Equifax CEO Richard Smith retires, becomes $18.5M richer... HOORAY, Happy Tuesday, Y'all!
Today, Equifax announced that its CEO, Richard Smith, would retire, effective immediately. Because of the terms of his executive agreement, Smith is entitled to at least $18.48 million in compensation. With the total value of his stock, Smith will have made a cool $70 million in just over a decade at Equifax.
Of course, Twitter is ablaze about the injustice of Smith profitting off Hurricane Equifax. John Wright (@TheWrightJohn) tweeted:
Equifax CEO Richard Smith just announced his "retirement". @TheJusticeDept - When should we expect you to announce indictments? #Equisux
Other users resorted to levity. The Daily Edge (@TheDailyEdge) quipped, "Equifax CEO Richard Smith has resigned, says he plans to live quietly under six different stolen identities."
Current Board Member Mark Feldler was named as Non-Executive Chairman, and Paulino do Rego Barros, Jr., Equifax's president for its Asia-pacific region - will be interim CEO. Here is the entire press release:
Smith is still expected to testify in front of the Senate Banking Committee next week.