Cybersecurity

Every year, Corporate Board Member and Spencer Stuart collaborate to survey directors of publicly traded companies to check their pulse on the challenges and best practices of corporate directorship.

Corporate boards, upon learning of a cybersecurity breach or a deficiency in company practices and procedures, should consider proactively hiring an independent monitor to improve cybersecurity practices.

Gone are the days of passing the cybersecurity buck solely to the CISO, CIO or the IT department, it is now widely accepted that boards of directors must take responsibility for their companies’ cybersecurity.

The concern over cybersecurity and data breaches is understandable given the virulence of such attacks in recent months.

In part 2 of our 2-part interview, Corporate Board Member caught up with Chertoff to talk about what boards are missing with regard to cybersecurity.

Boards must remember cybersecurity is one risk among many that can fall into the broader category of fraud, a significant and growing threat all organizations face.