US CEOs Are More Worried About Cybersecurity Than a Possible Recession (fortune.com)

With markets uncertain, many onlookers might think a recession is on the way, whether that's most CFOs in the world or voters in the United States. But domestic CEOs don't find heavy economic headwinds their biggest external business worry, according to a new survey by the Conference Board. Instead, it's cybersecurity followed by new competitors. Risk of a recession is third. From a report: After high-profile data breaches experienced over the last two years by such companies as Marriott, Equifax, and Uber, that might seem understandable. But U.S. CEOs stand in stark contrast to those of the rest of the world. Cybersecurity was the sixth most pressing issue for chief executives in Europe. It was seventh in Latin America, eighth in Japan, and 10th in China. Regarding concerns over a potential recession, Europe put that in second place, while Japan, China, and Latin America all rated it number one.

Comments

Pepperidge Farms Remembers

[Ol Olsoc]

When CEO's weren't worried about a recession leading up to the 2007 Great recession.

Might want to be worried about both, my bois.

Re:Pepperidge Farms Remembers

[ShanghaiBill]

Their arses are covered for a recession by golden handshakes/parachutes... A cyber security breach may lead them to being dismissed without their full payment.

This makes sense. If a company loses money in a recession, it is not the CEO's fault. One person didn't cause the recession, and the best a company can do is have enough financial cushion to ride it out. But a breach is preventable, and the buck stops with the CEO, so they should be held accountable.

Re: Pepperidge Farms Remembers

[ranton]

If I were a CEO I sure wouldn't worry about cybersecurity because the general public doesn't seem to care. Large, outrageous breaches have become the norm. I'm not even remotely surprised anymore.

Whether or not you care isn't their primary concern. It is the affect on stock price as compared to economic indexes. Research I have seen does show these breaches are having significant negative affects on stock price. It isn't as obvious while overall stock prices are rising, but when you compare them to similar companies their stock price is not keeping up with the market.

Stock prices certainly fall in recessions too, but so does the stock price of their competitors. If things get too dire they always have their golden parachutes to save them.