ATLANTA, Nov. 7, 2024
/PRNewswire/ -- Equifax® (NYSE: EFX) today announced that
Mark W. Begor will continue to serve
as Chief Executive Officer (CEO) beyond the current expiration of
his employment agreement in 2025.
"Over the last 6 years, Mark has provided a clear vision and
strong, decisive leadership for Equifax. He has delivered strong
financial results in the face of challenging economic conditions,
growing revenue by 50% since 2018 despite a decline in the mortgage
market of 34% in 2022 and 2023 and driving the Equifax market
capitalization from $14 billion in
2018 to $33 billion, a CAGR of 14%,"
said Mark Feidler, Equifax Chairman
of the Board. "Mark and his team have successfully completed an
enterprise-wide, more than $1.5
billion Cloud-based technology transformation that they are
now leveraging to drive global innovation and growth. The Board of
Directors remains confident that he is uniquely positioned to
continue to lead the business and drive value for our
shareholders."
Begor joined Equifax in April
2018, and has successfully driven a complete technology
transformation that has changed nearly every facet of the company's
infrastructure. This transformation to the Cloud is the largest
investment in Equifax history, and is a critical enabler to
accelerating innovation, new products and growth for the benefit of
customers, consumers and investors. Begor has also expanded Equifax
differentiated data assets by investing over $4.5 billion in 25 strategic bolt-on acquisitions
since 2018, and under his leadership the company has delivered more
than 100 new products each year for four consecutive years with a
Vitality Index above 10% since 2022.
"I am energized now more than ever about the future of the New
Equifax and am excited to lead the company as it realizes the
benefits of its industry leading Cloud technology investment.
Leveraging the power of the Equifax Cloud alongside its
differentiated data assets and patented EFX.AI techniques will
enable Equifax to help our customers grow from higher performing
scores, models, and products," said Begor. "I am excited to be
leading the next chapter of the new Equifax that we expect will
deliver higher growth, margin expansion, and expanding free cash
flow generation positioning Equifax to accelerate returning
cash to investors and driving shareholder returns."
FORWARD-LOOKING STATEMENTS
This release contains
forward-looking statements and forward-looking information. All
statements that address events or developments that we expect or
anticipate will occur in the future, including statements about
future operating results, and similar statements about our
financial outlook and business plans, are forward-looking
statements. We believe these forward-looking statements are
reasonable as and when made. However, forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from our historical experience and our
present expectations or projections. These risks and uncertainties
include, but are not limited to, those described in our Form 10-K
for the year ended December 31, 2023
and subsequent filings with the U.S. Securities and Exchange
Commission. As a result of such risks and uncertainties, we urge
you not to place undue reliance on any forward-looking statements.
Forward-looking statements speak only as of the date when made. We
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe
knowledge drives progress. As a global data, analytics, and
technology company, we play an essential role in the global economy
by helping financial institutions, companies, employers, and
government agencies make critical decisions with greater
confidence. Our unique blend of differentiated data, analytics, and
cloud technology drives insights to power decisions to move people
forward. Headquartered in Atlanta
and supported by nearly 15,000 employees worldwide, Equifax
operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia
Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Trevor Burns
Investor Relations
Trevor.Burns@equifax.com
Kate Walker
Media Relations
mediainquiries@equifax.com
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SOURCE Equifax Inc.