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Cramer makes a new addition to the 'Mad Money' Wall of Shame

Key Points
  • "Mad Money" host Jim Cramer makes a new addition to his infamous Wall of Shame.
  • Cramer says Equifax CEO Richard Smith should be fired for his handling of the massive cyber breach at his firm.

CNBC's Jim Cramer had to revamp "Mad Money's" infamous Wall of Shame to welcome its newest inductee: Richard Smith, the CEO of credit reporting giant Equifax.

Cramer was astonished that Smith kept his job after a major breach at the agency may have put data from 143 million U.S. consumers at risk.

The "Mad Money" host expressed his outrage with Smith on "Squawk on the Street" several days after news of the breach broke, saying that Smith should have been fired that day and that the breach could have been prevented.

On Monday, Equifax acknowledged a second, unrelated security "incident" that was not previously reported.

The first breach gave hackers access to Equifax customers' Social Security numbers, birth dates, and even driver's license numbers and credit card information — all ample ammunition for identity thieves to wreak havoc.

The hack was the fifth-largest in history. And while several midlevel executives were fired in connection with the breach, Cramer insisted that wasn't enough.

"Given the sensitive nature of the data Equifax deals with, cybersecurity should've been a major priority for the company, right? It clearly was not," Cramer said. "And, of course, Smith should've done a much better job of at least pretending to care about the victims here. You could say this is all the fault of the cybersecurity team, but honestly, the buck has to stop somewhere, and the whole thing has been handled so poorly that Smith has to go."

Cramer added that this wasn't Equifax's first rodeo. The firm has been hacked at least four other times just since 2016 despite having top technology executives on its board and being responsible for highly sensitive customer data.

"Equifax needs to do better, end of story, and they're not going to convince anyone they really care about the issue until [Smith] leaves. So he's stuck on the 'Mad Money' Wall of Shame and the stock simply cannot be owned until he agrees, judiciously, to spend more time with his family," Cramer concluded.

Equifax did not immediately respond to CNBC's request for comment.

WATCH: Cramer adds Equifax CEO to Wall of Shame

Equifax CEO added to Cramer's 'Wall of Shame'

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