Illustrating that while corporate directors are starting to look forward, protecting the value that their digital strategies and systems create is never far from mind.
Tony Cole, CTO of Attivo Networks, said, “It’s time for company boards to understand that our economy is completely reliant on technology for operations. This means we require technology-savvy board members to understand the risk when areas of security are ignored or underfunded. If not, many of the current security challenges we see today in the press will continue to repeat, year after year. Successful companies have adapted to the rapid pace of technological change, and boards must do the same.”
Boardroom effectiveness over a comprehensive digital and cybersecurity agenda starts with corporate directors who can govern both the upsides and downsides of information technology. Boardroom success on the broad technology agenda is defined by the skills, structure of the board, and the board’s scope of risk oversight.
Solarwinds recently added a boardroom cybersecurity committee and additional cyber competent directors to improve the corporate governance of their downside cybersecurity risks — after the fact of their breach. The basic corporate governance steps of having digital and cyber risk competent directors, organizing the board effectively, and actively governing systemic cyber risk are table stakes and should be standard boardroom practices.
Unfortunately, they remain the exception, not the rule. All but guaranteeing that even with the forward-looking optimism of boards starting to focus on digital transformation, the corporate boardroom will continue to be challenged to protect the digital value that they are beginning to focus on creating.
Read the full article at Forbes.