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Thank you Oliver F. Gosemann for pointing me towards the Heidrick & Struggles 2023 Board Monitor report. It provides an interesting perspective of board member cyber experience across several countries in the EU, Africa, North America, South America, Asia pacific and the Middle East. Boards average between 0% and 14%(U.S) cyber experience.
With the access that companies such as Heidrick have to board rooms the figures are likely the best available. They do not paint a great picture of board cyber experience in these countries and is likely indicative of the effects that cyber has on organizations in those countries.
With the EU moving to regulate cybersecurity in 2024 and the U.S SEC starting in December 2023. Setting expectations that boards of covered organisation have the appropriate knowledge and experience to oversight and assure cyber risk.
Boards of covered regulations require education and awareness of cybersecurity risks, to demonstrate oversight, assurance and attestation. If these figures are indicative, one suspect that many boards will struggle to adequately demonstrate they comply to cyber regulations. With recent high profile cyber attacks being reflected through market sentiment; regulators may be in a good position to challenge board attestation.
Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#paravasecuritysolutions #cybersecurity #cyberriskmanagement #cyberregulation
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