Boards of directors and independent directors are essential for companies to understand and review cybersecurity strategy and management processes. This blog explores how boards and independent directors manage risks, prioritize data protection, and navigate the complex cybersecurity landscape. It highlights the value of board involvement in cutting-edge technology, adoption of zero-trust architecture, and incorporation of cybersecurity as an enterprise-wide strategy.

The WannaCry ransomware attack is a case study highlighting the challenges faced by boards of directors in responding to cyber threats. It occurred on May 12, 2017, affecting computers running Microsoft Windows worldwide. The attack demonstrated the vulnerability to cyberattacks and the importance of collaboration between management and IT professionals in mounting effective responses, even without guaranteed success.

M&A are a common part of the global economy, but they require strategic planning, careful execution, and good corporate governance. As an independent director on the board of a SME, I have seen how mergers and acquisitions can take a company to new heights or, if not done well, destroy a lot of value. This blog post will discuss how important mergers and acquisitions are, how important corporate governance is, and how independent directors are in a unique position to shape and oversee these deals.

Board directors are essential for managing cybersecurity and ensuring the balance between digitalization benefits and risk mitigation. Independent directors bring unbiased perspectives, diverse expertise, and bridge the gap between board and external stakeholders. Their involvement is crucial in establishing robust cyber-risk management frameworks and instilling a cybersecurity-conscious culture.