Board Candidates with Cyber-Risk Knowledge Are Needed

In a speech on June 10,  entitled Boards of Directors, Corporate Governance and Cyber-Risks: Sharpening the Focus, Luis A. Aguilar, Commissioner, SEC, stated that “many boards lack the technical expertise necessary to be able to evaluate whether management is taking appropriate steps to address cybersecurity issues.” For a reading of the Commissioners full remarks, visit the SEC here.

The risks to companies and their management and boards’ future have been on the front page of the news.  The cyber-attack on Target should be eye-opening to boards about their need for closer scrutiny of a very complex issue.  Undoubtedly as boards look to fill their vacancies and the gaps on their board’s skills and experience, candidates with knowledge of how to monitor management’s handling of security and information technology will jump to the top of the list.

If you have cyber-risk knowledge and experience, now would be a good time to take action to begin or expand your search for an appropriate board seat for you.