Dishonoured in the breach

Carlos Grande

Management of data risk should be seen as an opportunity, rather than a box-ticking exercise, for organisations to build stronger customer relationships.

How do you lose track of the valuables of half the US population? Ask Rick Smith, the CEO of Equifax, the credit checking giant.

In September, a data breach at the company exposed the personal details of 143 million individuals, or the equivalent of one in two people in the US. Soon afterwards, Mr Smith announced his retirement.

Like other leaders who departed shortly after high-profile data breaches - including Gregg Steinhafel, the former chairman of Target, the big-box retailer, and Amy Pascal, the former chair of Sony Pictures - Smith could not be said to be directly responsible for...

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