CIO Perspectives

Planning for security breaches: What CIOs need to know to stay out of the hot seat

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With security breaches happening to companies every day, it’s more than likely that yours will feel the heat at some point.

Matthew Karlyn Foley & Lardner LLP

Matthew Karlyn, Partner, Technology Transactions & Outsourcing Practice, Foley & Lardner LLP

“I’ve been in meeting after meeting after meeting where companies like all of yours absolutely underestimate the impact of security breaches on the company,” Matthew Karlyn, Partner, Technology Transactions & Outsourcing Practice, Foley & Lardner LLP told attendees at the CIO Perspectives event in Houston in November 2015.

“The entire C-suite and board is on the hot seat for security these days,” Karlyn said. As a result, “board members, CEOs, CFOs and other senior executives are laser-focused on understanding corporate information security.”

“Why is the CEO losing his or her job? Why is this a topic at board meetings? Why are we now forming information technology committees on boards of directors? Because, what we’re facing are lawsuits stemming from security breaches – class-action lawsuits, shareholder liability lawsuits, and so on and so forth, that stem from security breaches and the security practices that your companies have.”

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