Priya PatelTLDR:
CEOs who have experienced serious cyberattacks regret over-relying on prevention strategies and not focusing enough on building cyber resilience. This article outlines strategies based on their experiences to help organizations prepare for, respond to, and recover from cyberattacks.
On May 7, 2021, Colonial Pipeline suffered a ransomware attack, disrupting fuel supply on the U.S. East Coast. The CEO testified before the U.S. Senate about the difficult decisions made during the attack, echoing the experiences of other CEOs in similar situations.
The authors conducted 37 interviews with CEOs of large enterprises, with nine having led through serious cyberattacks. The CEOs regretted focusing too narrowly on prevention and shared lessons on building cyber resilience as a strategic opportunity.
The key elements of the article include:
- Colonial Pipeline’s experience with a ransomware attack and the CEO’s testimony before the U.S. Senate
- Lessons from 37 CEO interviews, with nine having experienced serious cyberattacks
- Regrets shared by CEOs include over-reliance on prevention and lack of focus on building cyber resilience
- Strategies outlined to help organizations prepare, respond, and recover from cyberattacks
Overall, the article emphasizes the importance of moving from a preventive mindset to a resilient one in the face of increasing cyber threats.
