CISO wages 'hit €1m' as firms seek top security talent

Protecting a business from cyber attacks has moved beyond the IT manager's position

Cyber security

Businesses are increasingly appointing chief information security officers (CISOs) to oversee their security, paying them upwards of 1million (850,000) to keep businesses safe from hacks, according to DHR International.

The executive search firm explained the move is in response to an increase in the number of attacks and mounting costs of cyber threats to businesses.

"It's no surprise to see the financial value that top European firms now place on the role of CISOs, particularly given that the GDPR will be coming into effect a year from now," Cindy Provin, chief strategy officer at Thales e-Security said.

"More importantly however, these figures are evidence that the startling rise of cyber-attacks year-on-year has caused boardrooms to recognise the dangers of hacking for companies' bottom lines, reputation, customer retention and employee confidence."

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

The WannaCry ransomware is a great example of the severity of a cyber-attack, DHR International, affecting a huge array of businesses, including public services such as the NHS. Tens of thousands of companies were hit across 150 countries and DHR International explained the impact was evident.

"CEOs have started to lose their jobs over data breaches and the financial impact of some individual data breaches now runs into the tens or hundreds of millions of euros," added Gert Strzebecher, Partner at DHR International.

"An issue as serious as that gets its own seat at the board. Every corporate wants to avoid being the first major company put out of business by a cyber-attack that has got out of control."

Previously, it would have been an IT manager's role to take control of cybersecurity strategy, but it's now grown into a senior management role in its own right, with the main duties  designing, implementing and managing cyber security, carrying out the testing to make sure criminals can't break through defences and responding to problems when they occur.

"In order for companies to prevent the sensitive data from falling into the hands of a malicious hacker, and becoming tomorrow's headlines, it is critical that boardrooms feature cyber and data security prominently on their agendas," Provin added.

Featured Resources

How inkjet can transform your business

Get more out of your business by investing in the right printing technology

Download now

Journey to a modern workplace with Office 365: which tools and when?

A guide to how Office 365 builds a modern workplace

Download now

Modernise and transform your sales organisation

Learn how a modernised sales process can drive your business

Download now

Your guide to managing cloud transformation risk

Realise the benefits. Mitigate the risks

Download now
Advertisement

Recommended

Visit/security/internet-security/354417/avast-and-avg-extensions-pulled-from-chrome
internet security

Avast and AVG extensions pulled from Chrome

19 Dec 2019
Visit/security/354156/google-confirms-android-cameras-can-be-hijacked-to-spy-on-you
Security

Google confirms Android cameras can be hijacked to spy on you

20 Nov 2019

Most Popular

Visit/mobile/28299/how-to-use-chromecast-without-wi-fi
Mobile

How to use Chromecast without Wi-Fi

5 Feb 2020
Visit/security/34616/the-top-ten-password-cracking-techniques-used-by-hackers
Security

The top ten password-cracking techniques used by hackers

10 Feb 2020
Visit/operating-systems/microsoft-windows/354739/windows-7-bug-blocks-users-from-shutting-down-their-pcs
Microsoft Windows

Windows 7 bug blocks users from shutting down their PCs

10 Feb 2020
Visit/hardware/354723/coronavirus-starts-to-take-its-toll-on-the-tech-industry
Hardware

Coronavirus starts to take its toll on the tech industry

6 Feb 2020