Cramer: Equifax CEO ‘should be fired today’ after data breach fallout

2

CNBC’s Jim Cramer said Thursday that Equifax Chief Executive Richard Smith “should be fired today” after the fallout from the credit reporting agency’s massive data breach.

“I think the board is unbelievable. What does it take to get fired in this country?” Cramer said on ” Squawk on the Street.” “I mean, this was – you blame it on them, you blame it on the offensive line, you’re the head coach. Honestly, he should be fired. The board should just fire him.”

“I’ve been fired. It’s not so bad. You can pick up your life again,” Cramer said, adding the breach could have been prevented.

CNBC has reached out to Equifax for comment.

Equifax shares were lower Thursday, down more than 6 percent intraday to around $92 per share. The stock closed Wednesday below $100 for the first time since February 2016.

Smith is expected to testify on Oct. 3 before a House panel on the company’s massive data breach. This comes as nearly 40 states join a probe of the incident, which may affect as many as 143 million Americans.

In an op-ed published Tuesday in USA Today, Smith apologized for the cybersecurity breach and vowed the company would “make changes” to ensure it wouldn’t happen again.

“Our top priority is doing everything we can to support affected consumers,” he wrote.