Boards of directors are finding themselves in a position of having to shore up their tech skills in an area where, a year ago, they didn’t have any skills at all beyond simply asking the CTO, “Is our data security working? Great. Good. Have a nice day.” Now they’re struggling simply to understand the right questions to ask.
In the time known as “BT:” or “Before Target,” cyber-security was considered a turnkey process that required zero involvement from the top brass. Not so today.
With the big box retailer’s CEO Gregg Steinhafel and its board being personally blamed by the media for the poor response to its mega-hacking situation last year, every CEO is being put in the hotseat and taking a vested interest in whether their system is adequate for today and for the future.
This is forcing board members to delve into unfamiliar territory. Some companies, such as Delta Airlines, are adding people with technical skills to their board. Others are still trying to figure out what it all means.
Most companies realize they are sitting on a house of cards that could collapse at any moment. While customer data is a company’s lifeblood, there are other types of data at risk today as well, such as secret food recipes, product formulas and chemical equations, and board members are beginning to question whether that private information is adequately secure.
A recent article in The Wall Street Journal revealed that Kellogg’s is concerned hackers may steal priceless information such as their Rice Krispies ‘Snap, Crackle & Pop’ recipe, or the exact curve of a Pringles potato chip.
Dove has advertised for years that it is one quarter moisturizing cream; the consumer products firm has never felt threatened that anyone could duplicate that key product. Should it be worried now?
As digital natives age into the workforce and move up the management ladder, understanding cyber-security will be second nature to them. But for now, board members are turning their boardrooms into classrooms where the CTO and CIO are the teachers, and they’re hoping for a good grade.
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.
