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.
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.