The data-driven cloud security company, Lacework has announced the release of the first edition of The Modern CISO Network: Board Book. Security has become a business-critical priority for every organization and proposed new rules from the Securities and Exchange Commission (SEC) would require the Board of Directors of public companies to disclose which members, if any, have security experience. Lacework’s first edition of the Board Book aims to help close the cybersecurity knowledge gap in today’s boardrooms by highlighting more than 140 board-ready security leaders.

A recent Harvard Business Review survey of 600 boardrooms revealed just 47 per cent regularly interact with their company’s CISO. That’s likely because most Boards don’t have anyone with the security expertise to speak the CISO’s language. According to research from the CAP Group, among Fortune 100 companies, just 51 per cent have directors with relevant cybersecurity experience. The situation is even more alarming in the Fortune 500, where only 9 per cent of boards have directors with a strong understanding of cybersecurity. In the Russell 3000, just 8 per cent of companies have directors with cybersecurity acumen. These statistics underscore the urgent need for organizations to prioritize cybersecurity expertise at the board level to effectively address the evolving threat landscape.

“Cybersecurity goes beyond addressing technical risks. It is an organizational problem that requires business alignment and should be viewed as a strategic imperative,” said Chief Information Security Officer, PlanSource, David Christensen.  “Including cybersecurity experience at the board level is necessary to overcome the perplexities that often accompany discussions around cyber-risk, allowing boards to ask the right questions and provide the right oversight.”

Adding to the urgency, the SEC is expected to enforce new regulations that would require public companies to disclose which board members have security knowledge or experience, along with details about the board’s approach to cyber oversight. The SEC published draft rules in March 2022 and is expected to finalize them in the coming months.

“Imagine if a corporate Board had not a single Director who understood how to read and interpret financial statements, or who could recognize that the CFO had overlooked some critical matter that had the potential to bankrupt the company. It is clear how that story would end. Somehow, however, despite all of us recognizing that cyberattacks can inflict tremendous damage upon a business, many of today’s boards oversee cyber-risk management with essentially the same level of blindness,” said Joseph Steinberg, a cybersecurity board member, author, and expert witness. “Boards need to alter their composition to include Directors who understand cybersecurity at a strategic level, who know how to oversee cyber-risk management and the function of making a business resilient against cyberthreats, and who can help boards appropriately direct and maintain their cyber-risk-oversight focus.”

A Directory of Board-Qualified Security Leaders

The Modern CISO Network: Board Book is a directory of qualified senior security leaders that are ready to advise and guide businesses as they navigate the evolving cybersecurity landscape. By creating a diverse network of experienced security leaders, the book aims to elevate the role of the CISO and simplify the process for companies to find the guidance they need to navigate security threats. Lacework will update further editions of the book on an ongoing basis.

The book’s first edition includes CISOs from organizations like:

Adidas

CapitalOne

General Electric

Rockwell Automation

T-Mobile

And more.