Equifax Inc. (EFX - Get Report) announced that Market Begor, former CEO of General Electric's (GE - Get Report) Energy Management business, will take on the company's top job Wednesday. The stock closed at $119.04, up 2.25%.
Begor, 59, will replace Paulino do Rego Barros Jr., who became interim CEO of the credit reporting company in September after Richard Smith stepped down amid controversy over the company's handling of a data breach.
Nearly 150 million Americans had their data exposed in a hack that exploited a software flaw that Equifax left unchecked. The hack was exposed on Sept. 7 and Smith was out shortly after.
"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.
Begor most recently was the managing director for private equity firm Warburg Pincus. Begor's appointment becomes official on April 16.
"The team has made meaningful progress in the last several months to address a number of well-publicized issues while continuing to focus on delivering differentiated new products and advanced analytics to support our customers," Begor said.