The breach has sparked multiple investigations at the state and federal level, including the Department of Justice in Atlanta, where Equifax is based, and the Federal Trade Commission. The company said its chief information officer and chief security officer retired earlier this month. Three other executives, including the chief financial officer, have drawn scrutiny for selling $1.8 billion of company stock just days after the breach was discovered internally but weeks before it was announced to the public.

In a statement on Tuesday, Feidler said, “The Board remains deeply concerned about and totally focused on the cybersecurity incident. We are working intensely to support consumers and make the necessary changes to minimize the risk that something like this happens again.”

He added that the board has formed a special committee to focus on the issues arising from the breach and make sure all appropriate actions are taken. “Speaking for everyone on the Board, I sincerely apologize.”

In the same statement, Smith said he believed it is in the best interests of the company to have new leadership “to move the company forward.”

Feidler is a partner and co-founder of a private equity firm and has been independent director of Equifax since 2007. Barros, the interim CEO, recently oversaw Equifax’s Asia-Pacific business, including the company’s largest-ever acquisition.

Smith’s salary for 2016 was $1.45 million and his bonus was $3.045 million.

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