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May 1, 2019M ondelez is in focus this month. This story is important for three reasons:
① It’s atypical—this isn’t the usual ‘customer data loss’ story. It is about a breach leading to an operational disruption, a type of impact resulting from poor cyber governance that is on the rise. ② Losses are larger—our analysis shows that a ‘business operations disruption’ issue leads to much greater losses in shareholder value vs. a customer data loss, and over a longer duration (due to longer recovery time). ③ Exposes the financial damage of security flaws—security flaws are often the downside of ‘over-optimizing’ for operational profitability.
Recent stories show a doubling of the number of records stolen, and a five-fold increase in the number of breaches in key sectors, and yet there continues to be a lack of effective action from the board and senior management. What to do?
Boards are increasingly demanding that “we want to be more involved in managing cyber” while CISOs are saying “we’re not being heard.” We explain the disconnect and why it matters.
The increasing regulatory entanglements in Europe and the US for technology companies highlight for both investors and companies the need to focus on cyber governance practices as a means of mitigating risk.