When a company faces challenges, it is common for it to undertake changes. These changes are intended to restore stability and to address the challenges. Management changes are some of the measures that firms undertake. A firm may let go of members of the management team who are responsible for the challenge or have demonstrated an inability to effectively address the challenge. The firm then replaces these members with new ones who promise to help solve the challenges. Equifax is among the firms that are seeking to solve their challenges through management changes.
Recently, Equifax announced that two members of its management team would be retiring with immediate effect. The company identified the chief information officer and the chief security officer as the executives who would be leaving the company (LaVito, 2017). The firm made it clear that these two would be retiring. However, there is speculation that the two were being forced to leave following the massive breaches that the company has suffered in recent years.
Delegate your assignment to our experts and they will do the rest.
To understand why the chief information and the chief security officer are “retiring”, it is necessary to examine the internal issues at Equifax. In the weeks leading up to the announcement of the retirement of these two officers, the company had shared with the public that it had suffered a security breach. This breach affected as many as 143 million of the customers that the company serves (LaVito, 2017). While the company did not link the retirement of the two officers to the breach, it would be reasonable to speculate that their retirement is the result of their failure to prevent the breach. This speculation is based on the roles that the two officers played. As the chief information and chief security officers, these individuals were charged with the mandate of securing the company against such issues as hacks and security breaches. It is clear that Equifax is simply attempting to repair the damage that the security breach caused.
Reference
LaVito, A. (2017). Equifax Security and Information Executives to Retire. Retrieved 8 th October 2017 from https://www.cnbc.com/2017/09/15/equifax-security-and-information-executives-to-retire-dj-reports.html
