Boards Are Interested in Cybersecurity Too

Dateline: September 29, 2017

Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.

With all the media attention focused on recent cyber events, it’s no wonder our Boards are getting involved.  Certainly a catastrophic event such as Equifax experienced recently shows Board leaders that a large vulnerability might exist in their company.  Making sure these risks are managed appropriately is one of the Board’s main responsibilities.  Recently, I ran across a great article at the Korn Ferry Institute titled Cyber-Threatened? Meet the New CIO Director. Authors Nels Olson and Craig Stephenson nicely lay out the argument for adding a CIO to the Board.

It is likely that most companies will face unforeseen challenges arising from technology-related risk. But having an accomplished CIO as a member of the board team is an effective way for a board to make sure it identifies the most pressing technology priorities, establishes greater importance for the technology functions, and plays an active role in attracting top technology leaders. Perhaps most important of all, the CIO director can constructively challenge plans for the technology functions, which are the backbone of successful enterprises today.

Does your Board have a technology member?  If not, how does your Board stay current and knowledgeable about cybersecurity and other strategic technology issues?

That’s a WRAP!  Have a great weekend!

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