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Equifax Taps GE's Smith as CEO

The credit agency says leadership is its lifeblood.
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Equifax (EFX) - Get Equifax Inc. Report named Rick Smith chairman-elect and CEO, succeeding Thomas F. Chapman, who will retire at the end of 2005.

The Atlanta-based credit agency said Smith will take the CEO post Sept. 19, and Chapman will remain chairman through the end of the year.

Smith, 45, joins the company after 22 years with

General Electric

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(GE) - Get General Electric Company Report

. Most recently, he was chief operating officer of GE Insurance Solutions, GE's global insurance group, which had $10 billion in revenue and $50 billion in assets in 2004.

"Effective leadership is the lifeblood of Equifax," said Chapman. "Rick's broad experience as a leader in technology, risk management and financial services will serve him well when he takes the helm of this fine company."

Early Wednesday, Equifax rose 35 cents to $34.05.