Mark Feidler, a board member, will take the role of Non-Executive Chairman.
Paulino do Rego Barros, Jr., who has been at Equifax for 7 years, has been named interim CEO while a search for a permanent CEO commences.
The news comes amid Equifax's massive data breach announced earlier this month, which reportedly left 143 million people at risk.
Equifax shares fell 1.5% following the news of Smith's retiring.
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