Equifax CEO to collect $90 million: report

Equifax CEO to collect $90 million: report
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Equifax CEO Richard Smith will collect roughly $90 million in the coming years after he resigned over the company’s massive privacy breach.

Smith, who announced his retirement Tuesday, will collect about $72 million this year and $17.9 million in coming years, according to Fortune. This reportedly adds up to about 63 cents for each customer who was potentially exposed in the company’s data breach.

Smith is one of three Equifax executives to leave the company after the data breach. Chief information officer David Webb and chief security officer Susan Mauldin both resigned last week.

Equifax revealed earlier this month that it had suffered a massive data breach that affected up to 143 million U.S. customers. The impacted data is believed to include birth dates and credit card numbers.


Company executives are under scrutiny following reports that they dumped stock before announcing the breach.

The Justice Department announced last week that it was investigating the executives who sold the stock before announcing the breach. The Federal Trade Commission is also investigating the breach.

Lawmakers have similarly cracked down on the credit agency.

Smith will testify before the House's Financial and Energy and Commerce committees over the breach.