In this week's SecurityWeek Article, Mark Hatton wonders if the news about the Target CEO losing his job over the breach last Fall has finally made an impression in the Boardroom?
For years, the security community and regulators have been warning that things are starting to get serious and that “plausible deniability” for executives no longer exists when it comes to lapses in network security. Some heeded the warnings, most did not, and as a result we are starting to see the ramifications of a tougher emphasis on security.
Not only are executives facing increased scrutiny from authorities and Congress, but they are now squarely in the crosshairs of their own board members and shareholders who are frustrated and moved to action by any loss of value tied to security issues. While this is certainly not the first domino to fall, it may be the highest profile to date. The announcement within the last couple weeks that Target Corporation chairman and CEO, Gregg Steinhafel was forced to resign in response to a massive data breach was the proverbial “shot heard round the world,” and the C-Suite is directly in its sightline.
By all accounts that I’ve read, Mr. Steinhafel was an excellent executive who was respected by employees and investors alike. So if it can happen to him, it can surely happen to any executive, at any company, in any market.
To read the complete article, please visit SecurityWeek at: https://www.securityweek.com/are-we-ready-take-these-breaches-more-seriously-now
Mark Hatton, President, CEO