In the day-to-day operations of businesses, executives and top managers are generally responsible for proposing and implementing corporate strategy. It is the members of a company’s board of directors, however, who are ultimately responsible for oversight and risk management. Cyber-security is an increasingly fundamental area of potential risk that must be managed. And, as corporate governance expert Nell Minow recently wrote, “The risks of cyber-attacks are not ‘if’ questions. They are ‘when’ questions. And the answer to the ‘when’ question is: now. Cyber-attacks are a real and constant danger.”
We encourage you to read Ms. Minow’s timely article, “What Should Boards Know About Cyber-Threats.” Be on the lookout for an upcoming new installment in our Bilzin Sumberg Homebuilder Webinar series that will focus on cyber-security and proper corporate governance in an era of data-related threats.