This month, we look at how boards are addressing technology oversight from marketing campaigns to protecting data.
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Does Your Board Need Cyber Experts?
Dear Friend,
Companies across industries are gaining a competitive advantage from digital advancements, but with these new opportunities comes the ever-mounting challenge of cyberattacks. As boards increasingly seek out digital specialists to guide their strategies and create competitive advantage, they will also have to rely on such experts to inform and advise on cybersecurity. In an era when attacks, incidents and breaches are commonplace, these issues expand beyond the IT department and must factor into a company’s technology and cybersecurity plan across the enterprise. In this month’s Comp & Gov Spotlight, we look at how boards are addressing technology oversight from marketing campaigns and personal data, to protecting everything and anything that is housed on the corporate server. After all, the reputation you protect may very well be your own.
Cyberattacks that compromise vital information seem to happen almost every day. How are boards addressing these risks? Farient research found that cyber experts continue to be underrepresented on corporate boards, but overall, companies are moving in the right direction.
Despite ever-increasing risk, boards have generally been slow to add cyber security experts into their mix. Farient CEO Robin Ferracone speaks with Bob Zukis, founder and CEO of the Digital Directors Network, about why cyber-minded directors are needed and what skills those directors should have.
Today’s companies have an obligation to oversee and report cyber risks. In this Forbes article, a leading IT company CEO elaborates on five key factors of which management should be aware when reporting to corporate boards on cybersecurity.
A recent survey indicated that one-fifth of board directors are unhappy with the quality of information they receive from management about cyber risks. But this may be due to lack of cybersecurity expertise on the part of boards. What do they need to know to be more informed and confident?
Robin Ferracone will co-host the Dare to Be Different: Strategic Alignment in Executive Compensation Design presentation with Valerie Danna, head of people, Trupanion. The pair will explore how executive compensation plans have become increasingly homogenized as companies try to follow rules-based guidance from proxy advisers and investors about design elements that are essential for garnering a positive say-on-pay vote.
Dayna Harris is a Farient partner with more than 20 years of experience providing advice on executive and Board compensation. She focuses on designing incentive programs that align compensation with business strategy and value creation for shareholders. Her incentive design work centers on identifying the appropriate incentive structures, performance measures and approaches for goal-setting. Learn more about Dayna.
Farient Advisors LLC is an independent executive compensation, performance, and corporate governance consultancy. Farient provides a comprehensive array of services to boards of directors and management including: compensation program design, goal setting and performance measurement, pay and performance alignment, board of directors compensation, and shareholder communication among others. Farient has offices in Los Angeles and New York and covers clients in more than 30 countries through our partnership in the Global Governance Executive Compensation Group (GECN).
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Companies across industries are gaining a competitive advantage from digital advancements, but with these new opportunities comes the ever-mounting challenge of cyberattacks. As boards increasingly seek out digital specialists to guide their strategies and create competitive advantage, they will also have to rely on such experts to inform and advise on cybersecurity. In an era when attacks, incidents and breaches are commonplace, these issues expand beyond the IT department and must factor into a company’s technology and cybersecurity plan across the enterprise. In this month’s Comp & Gov Spotlight, we look at how boards are addressing technology oversight from marketing campaigns and personal data, to protecting everything and anything that is housed on the corporate server. After all, the reputation you protect may very well be your own.
