Equifax Splits Company Into Two Parts
Equifax Inc., the Atlanta-based credit bureau and data compiler, has split itself into two companies: Information Services, which will handle credit information and direct marketing services, and Payment Services, which will furnish credit card processing and check risk management functions.
Tom Chapman will remain chairman/CEO of Equifax and will become chairman of the new as-yet un-named payment services company. Lee Kennedy will become president/COO.
Phil Mazzilli, current executive vice president and chief financial officer of Equifax, will become president/COO of Equifax. Larry Towe, currently executive vice president and group executive of Payment Services, will become executive vice president/COO of Payment Services, which will also have its own board of directors.
Equifax said it anticipates no layoffs now.
