Equifax names Mark Begor as its CEO

Brendan McDermid | Reuters

Equifax trading information and the company logo are displayed on a screen where the stock is traded on the floor of the New York Stock Exchange in New York.

Equifax says Mark Begor will become its CEO as the credit reporting company continues to try to recover from fallout surrounding a massive data breach.

The 59 year-old Begor will take over from Paulino do Rego Barros Jr., who became interim CEO in September when Richard Smith stepped down from the post. Smith’s departure followed those of two other high-ranking executives who left in the wake of the hack, which exploited a software flaw that Equifax didn’t fix to expose Social Security numbers, birthdates and other personal data that provide the keys to identify theft.

A total of about 147.9 million Americans have been impacted by Equifax’s data breach, which remains the largest exposure of personal information in history. It was disclosed to the public on Sept. 7.

Begor most recently served as a managing director at Warburg Pincus. Prior to that, he spent 35 years at General Electric in a variety of positions, including as president and CEO of GE Energy Management.

Begor’s appointment at Equifax is effective on April 16. He will also become a board member.

“I will prioritize continuing our team’s efforts to communicate transparently and restore confidence with consumers, customers, shareholders and policymakers,” Begor said in a statement.

Equifax also announced Wednesday that do Rego Barros Jr. will retire from the Atlanta-based company early next year. He will assist Begor during the transition process.