The constantly changing nature of cybersecurity risk, as well as the high and ever-growing financial, operational, and reputational costs when breaches occur is driving important conversations across global markets about how organizations can better protect themselves.
Companies face rising demands and expectations from a wide range of stakeholders to strengthen operational resilience and improve consumer data security. Board governance effectiveness is also in the spotlight when it comes to overseeing cybersecurity risks and whether board composition, board structure, director skillsets, and board processes are sufficiently attuned to navigate the challenging cybersecurity landscape.
How boards address their complex and increasingly important cybersecurity oversight responsibilities is a crucial part of this story. From board structure and operations to committee organization and composition, organizations in the U.S. are handling their approach to cybersecurity in very different ways.
Get the full report to see how companies are dealing with cybersecurity:
Board structure and operations
Nearly all S&P 100 companies have charged at least one board-level committee with cybersecurity oversight
Committee organization and composition
Most of the committees charged with cybersecurity oversight identified at least one individual with a background in cybersecurity or technology or risk
2019 proxy statements found that around one-quarter of reviewed S&P 100 companies disclosed insights on recent cybersecurity activities taken by boards