Simply put, they’re concerned. Based on a survey of 200 board members by NYSE Governance Services, 66% said they were not confident their companies are properly secured against cyberattacks.
The results show that while its clear board members understand the connection between cybersecurity and their companies’ financial viability, there’s a significant disconnect when it comes to breach prevention. This has created a need for CISOs to better understand board member perceptions and become more effective at communicating their cybersecurity strategies in the boardroom.
While it’s refreshing to see cybersecurity risk move higher on the board’s agenda, board members ranked it second to last in priority when developing new products and services (behind other concerns such as competitive differentiation, revenue potential and development costs).
Take a look at the full report for usable insights for CISOs.