Cybersecurity breaches can result in millions of dollars in losses for global enterprises and they can even represent an existential threat for smaller companies. For boards of directors not to get seriously involved in protecting the information assets of their organizations is not just risky — it’s negligent.
Boards need to be on top of the latest threats and vulnerabilities their companies might be facing, and they need to ensure that cybersecurity programs are getting the funding, resources and support they need.
Lack of cybersecurity oversight
In recent years boards have become much more engaged in security-related issues, thanks in large part to high-profile data breaches and other incidents that brought home the real dangers of having insufficient security. But much work remains to be done. The fact is, at many organizations board oversight of cybersecurity is unacceptable.
Research has shown that many boards are not prepared to deal with a cyberattack, with no plans or strategies in place for cybersecurity response. Few have a board-level cybersecurity committee in place.
More CIOs are joining boards
On a positive note, more technology leaders including CIOs are being named to boards, and that might soon extend to security executives as well. Earlier this year the .
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