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Equifax names 2nd new CEO since data breach

By Ed Adamczyk
Equifax names 2nd new CEO since data breach
Mark Begor was named the new CEO of credit-reporting company Equifax Wednesday, the second time it's named a new chief executive since a major data breach in September. File Photo by Justin Lane/EPA-EFE

March 28 (UPI) -- Credit-reporting company Equifax on Wednesday named a new CEO -- the second time it's filled the leadership post since a major data breach in September.

Mark Begor replaces interim CEO Paulino Do Rego Barros, who will retire this year and help in the transition, the company said.

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Do Rego Barros has led the Atlanta-based company since CEO Richard Smith stepped down in September, when it was disclosed that hackers accessed the personal data of over 146 million U.S. consumers.

The breach prompted more than 240 class action lawsuits, more than 60 inquiries from regulatory and government agencies and a 16 percent decline in Equifax' stock value. Shares improved 2 percent Wednesday morning.

Equifax acknowledged that its banking customers have deferred new projects until the company demonstrates improvements in security procedures.

Begor will formally assume the CEO position on April 16. He spent 35 years in the same post leading several divisions at General Electric, and nine years as head of its retail credit card business, now Synchrony Financial.

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