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Lessons, for M&S. Not just M&S and it all very much depends on your audience. Here are my 10 lessons learnt from 20 years of experience working in cybersecurity, risk management and cyber compliance for highly regulated firms.1. Cyber a very profitable business for hackers. With margins of at least 80%, some reports put it at 90% (better than 1980s cocaine production). With allot of upside and little downside for hackers.2. While tempting, cybersecurity is an issue that you should not play Russian Roulette with. You will lose. M&S, CooP and Harrold’s go on the long list of victims.3. Cyber is an asymmetric risk, organisations have to be good all of the time, hackers only once.4. There are always things you can do to manage cybersecurity, irrespective of cost. Boards need to proactively manage cyber risks ‘Left of Bang’, aiming to prevent them rather than be impacted by them (the M&S, Coop and Harrold’s boards maybe asking these questions right now).5. Cybersecurity risk management is a leadership problem. It starts at the top of the organisation and drills down. 6. Cyber is increasingly becoming a legal and compliance issue for boards. It’s being regulated for a reason.7. Don’t expect help from Government. Governments either regulate or they step in ‘Right of Bang’, AKA when its to late.8. By the time you realise you’ve been hacked, it’s likely the hackers have been inside your systems for months. The will know more about your system that the board does.9. In 2025 there are no excuses for boards not to govern cybersecurity, cybersecurity risk and risk mitigation. It’s being regulated for a reason.10. (Actually 4 – Again). We live in a digitally dependent world. Digital controls everything, (unless you work for the Church, I think?) you cannot avoid cyber. Cybersecurity Risk Management starts with the board and board governance.One lesson that covers all, is all companies have to understand that they are vulnerable to cyber attacks and that boards have a fiduciary responsibility to manage
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