The increasing frequency of cyberattacks coupled with innovative new technologies is causing the cybersecurity sector to explode, creating many vendor choices for manufacturers.
Big-company victims such as Target and Morgan Stanley grab all the headlines when they’re hacked and millions of customers find their privacy breached. But the cybersecurity of mid-market companies actually is violated more frequently.
Nick Coleman, IBM’s global head of cybersecurity, discusses the keys to a strong cybersecurity program and what companies can do to keep pace with the evolving nature of security threats, in a Wall Street Journal blog post.
In two recent studies, one from The Hartford and another from Travelers, the majority of respondents consider cyber intrusion a major risk. Of mid-market firms in the Hartford study, 43% have already experienced a cyber attack. Yet, of those surveyed by Travelers, just 44% said they have the financial resources to recover from one.
As cybersecurity has arguably become the boardroom issue, directors are pressing CEOs to ensure cyber risks are addressed with urgency. As major breaches continue, it’s not just CIOs’ careers at risk, but CEOs’ too. What should CEOs be doing to ensure their name doesn’t headline as the victim of the next big breach? Here are three suggestions.
In 2014 alone, there were nearly 800 identified data breaches involving over 85 million records, according to the Identity Theft Resource Center Data Breach Reports. Regulatory officials have rushed to propose cyber security guidelines and adopt cyber security requirements. In addition, multiple lawsuits have been filed alleging that board misconduct significantly contributed to the financial fallout from compromised company data.
Recent news about hackers breaking into large companies’ systems and wreaking havoc has caused senior executives at companies of all sizes to consider adding cyberinsurance to their portfolio of protections.
Since the Target breach more than a year ago, we at Chief Executive have gone to great lengths to make it clear to CEOs that cybersecurity is now their responsibility. We’ve emphasized that they need to be fully up to speed on their company’s protective capabilities and emergency response plan, to ensure the systems are strong enough to keep hackers out and to ensure that they themselves can adequately answer all questions on the topic from board members, shareholders and the media, both during quiet times as well as after an attack. This article is a thorough blueprint that can help fulfill both those goals by fast-tracking CEOs’ cybersecurity learning process.
Cybercrime, social media and shareholder activisim are just some of the new pressures board members are concerned about, according to the 12th Annual Director Survey by Spencer Stuart.
There is no question that the topic of cybersecurity is top of mind for directors and officers of all types of companies. In the wake of cyber breaches, the role of the board of directors in cybersecurity risk management has come into focus in response to increasing regulatory scrutiny and the rising threat of private shareholder litigation.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
