Chairman and CEO of Equifax quits

When the times get tough, the CEO retires

Equifax Chairman CEO Richard Smith announced that he’s retiring. He’s been CEO since 2005 and owns 285K shares, valued at about $30 million. He’s 57 years old.

An interesting note in his pay structure was that he’s slated to get $64 million if terminated after a change. Not sure that counts if he retires.

The board named Mark Feidler Chairman and Paulino do Rego Barros Jr. as interim CEO.

Earlier this month the company also announced its chief security and chief technology officers would retire.

The company stock was halted for news pending.

Update: Shares down 3%.           

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