Summary
Equifax Inc. has filed a Form 8-K to announce a significant leadership transition. The company has entered into an employment agreement with Richard F. Smith, who will assume the role of Chief Executive Officer and Chairman-Elect effective September 19, 2005. This appointment marks a planned succession, with the current CEO, Thomas F. Chapman, retiring from his CEO duties on the same date. Mr. Chapman will continue as Chairman until December 31, 2005, at which point Mr. Smith is slated to become Chairman of the Board on January 1, 2006. Investors should note the experience Mr. Smith brings from his extensive tenure at General Electric, most recently as Chief Operating Officer of GE Insurance Solutions.
Key Highlights
- 1Appointment of Richard F. Smith as CEO and Chairman-Elect, effective September 19, 2005.
- 2Planned retirement of current CEO, Thomas F. Chapman, from CEO duties on September 19, 2005.
- 3Thomas F. Chapman to remain as Chairman until December 31, 2005.
- 4Richard F. Smith is expected to become Chairman of the Board on January 1, 2006.
- 5Mr. Smith brings 22 years of executive experience from General Electric, including leadership roles in GE Insurance Solutions.
- 6The filing details a material definitive agreement related to Mr. Smith's employment.
Frequently Asked Questions
Richard F. Smith has been appointed as the new Chief Executive Officer and Chairman-Elect, effective September 19, 2005.
Thomas F. Chapman will retire as Chief Executive Officer on September 19, 2005. He will continue to serve as Chairman of the Board until December 31, 2005.
Richard F. Smith, age 45, has a 22-year career at General Electric, most recently serving as Chief Operating Officer of GE Insurance Solutions since 2004. He held various executive positions within GE's insurance and financial services divisions.
Richard F. Smith is scheduled to become Chairman of the Board on January 1, 2006, following the departure of Thomas F. Chapman from that role.