With impending news that Atlanta-based credit bureau Equifax experienced a massive cyber hack that compromised the personal and financial information of 143 million Americans, the company’s chief financial officer Jonn W. Gamble, Jr., divested $946,374 of shares in the company.
According to Bloomberg, Gamble and two other top brass – Joseph Loughran, president of U.S. information solutions; and Rodolfo Ploder, president of workforce solutions – “had not yet been informed of the breach when they conducted the sale.”
The credit bureau learned of the breach on July 29, but had not disclosed it publicly until Thursday. Gamble, Ploder and Loughran sold $1.8 million worth of stock on August 1 and 2.
Equifax shares dropped to $124 per share, down 13 percent, on Thursday.
Here are the facts you need to know about John Gamble at this time:
1. John Gamble Has Served As Chief Financial Officer of Equifax For Three Years; He Relocated To Atlanta With His Wife From Lexington, Kentucky.
According to his LinkedIn profile, John Gamble started as Equifax CFO in May 2014 after nine years in a similar role with printer manufacturer Lexmark International, Inc. He is also served on the boards of CyrusOne since May 2014 and of Moovila since this April.
Gamble has an MBA from Columbia Business School and and a bachelor’s of science in electrical and electronics engineering from Cornell University.
2. Gamble, Ploder and Loughran Sold Equifax Shares On August 1 and August 2, Two Days After The Cyber Attack Was Discovered.
The timing of the $1.8 million stock divesture certainly looks suspicious, but there is no direct evidence the CFO knew of the cyber attack. He divested $946,374 in Equifax shares, Loughran sold $584,099 and Ploder sold $250,458 of the stock on Aug. 2.
“None of the filings lists the transactions as being part of 10b5-1 scheduled trading plans,” Bloomberg reported.
3. As Corporate Vice President and CFO of Equifax, Inc., Gamble Earns More Than $2.6 Million Annually.
Gamble’s 2016 earnings included a $632,243 base salary, a $758,692 bonus, $1,244,532 in awarded stock and $16,640 in other compensation, according to Salary.com, which sourced the information from the 2016 fiscal year proxy statements.
4. Richard F. Smith, Chairman and Chief Executive Officer of Equifax, Called Gamble An “Ideal fit” at Equifax.
Following the retirement of his predecessor Lee Adrean, Gamble was announced as the new CFO of Equifax on May 12, 2014. Richard F. Smith, the credit bureau’s chairman and CEO, issued a detailed statement about the hiring.
“As a result of careful planning, we will seamlessly transition financial leadership responsibilities to our new CFO. John is a seasoned executive whose financial track record with Fortune 500 companies is the ideal fit for Equifax. He brings over 20 years of business experience including 18 years as a Chief Financial Officer and I am pleased to welcome him to Equifax. John has extensive financial experience, a solid track record of success in finance leadership roles and will be a strong addition to the Equifax leadership team.”
Prior to working at Lexmark, Gamble worked at Agere Systems, Inc., Allied Signal, Inc. and Honeywell Industrial Controls. He had been with General Motors from 1986 to 1996, including a stint as treasure of General Motors Canada. He started out as an electrical engineer with Bethlehem Steel Corporation in 1984.
Gamble and his wife Linda relocated to Atlanta from Lexington, Kentucky.
5. Gamble Is On the Advisory Board of South Carolina-based Startup Moovila.
Moovila, touted as “a cross-functional collaboration platform that helps teams work together more effectively, from anywhere,” is a South Carolina-based tech company. Gamble joined as an advisory board member in April.
Since May 2014, he has also on the board of CyrusOne, a Dallas, Texas-based firm specializing in “data center colocation facilities.”