In today's era of digital fraud, CEOs need to have a thorough understanding of threats and risks as well as the urgency of properly assessing and responding to incidents. It is not IF but WHEN your organisation will suffer a security breach. Without this understanding and an ability to communicate it to all levels of the organization - businesses can sustain significant reputational and financial damage.
See Also: Ransomware: The Look at Future Trends
CEO's should also be concerned about how vulnerable their global supply chains are to various risk factors and be proactive in working with them to ensure that they are better able to respond quickly and intelligently to these ever-emerging challenges.
Quick and effective incident response can impact an organisation's competitiveness, financial health, share price, and even business survival. The CEO should lead the way by engaging with the board to intentionally build resilience into cyber security efforts through analysis, training, planning, and testing across the enterprise.
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