The implications of boards holding Chief Executive Officers accountable for breaches will be something to watch. Recently a survey of 200 public companies shows that corporate boards are now concerned about cybersecurity and willing to hold top executives accountable.
Since the board (and the CEO that they put in place) is ultimately responsible for the results of the company, making the CEO responsible shouldn’t be a surprise. A security breach is just one example of a business risk. not just a “technical issue,” so it should be treated in a similar fashion. There are roles like the CISOs, CIOs, CROs that may support the CEO in their efforts to steer the ship, but if the organization runs aground, the highest levels of corporate leadership need to be held accountable — just like they are rewarded for improved corporate performance. Neither scenario is accomplished by the CEO alone.
A data breach can impact customer confidence, stock price, and the company’s reputation for a long time and those are not “technical issues.” Unfortunately, it is not a matter of “if” but “when” a security incident will occur so a formal effort must be expended to anticipate, detect, develop contingency plans to limit, and correct the situation when it occurs, as quickly and effectively as possible, reducing the impact on the customers as well as the organization itself.
That is likely one reason why in job postings today there are an abundance of openings in the security space.