Cyber-Attacks Have Dramatic Implications for Public Companies, Torrenzano Tells Corporate Directors
NEW YORK, Feb. 28, 2012 /PRNewswire/ -- "Cyber-attacks destroy corporate reputation and have become a global epidemic with dramatic implications for how boards of directors must view risk and vulnerabilities."
This is just one of the arresting statements Richard Torrenzano, chief executive officer, The Torrenzano Group, and co-author of Digital Assassination: Protecting Your Reputation, Brand, or Business Against Online Attacks delivered to a full house at the Connecticut Chapter of the National Association of Corporate Directors (NACD) on Monday night, February 27.
Torrenzano was part of a special program entitled "Digital Attacks on Businesses: Protecting your Brand, Reputation and Critical Assets" that focused on damage done to businesses and organizations online.
The presentation featured James D. Wehr, president and chief executive of The Phoenix Companies, Inc. and Theodore P. Augustinos, partner, Edwards Wildman Palmer LLP and co-chair of the firm's Privacy and Data Protection Group.
Torrenzano's latest book tackles the timely topic, predicting what the end of privacy will mean for civilization -- and providing a course of actions to turn the tables on would-be assassins.
Concluding his presentation, Torrenzano posed seven questions corporate directors need to ask at their next board meeting about digital reputation and brand equity.
- Has the board considered the negative reputational and financial effects cyber-attacks can have on the company?
- Does the company have an integrated Internet strategy that considers the needs of all company stakeholders? Does it include a corporate crisis plan?
- Is the digital strategy just a marketing or customer service tool...or is it a broader plan for the advancement and protection of corporate and brand reputation?
- Are key company executives, including legal, human resources, marketing, sales, communications and investor relations -- as well as top management organized -- integrated and trained to respond rapidly to an Internet attack?
- Do key company executives exercise their strategy by conducting digital war games that develop decision trees for actions and inactions? Is their performance independently evaluated?
- Has the company periodically considered the 3, 4 or 5 likely attacks -- based on its product or service mix, industry or geography?
- From a corporate governance view, has the company integrated this issue into its overall Enterprise Risk Management process? Who in the C-Suite owns this strategy?
About The Torrenzano Group
The Torrenzano Group is a strategic communication and high-stakes issues management firm specializing in building and protecting corporate reputations, enhancing shareholder value and helping clients grow their businesses. The Torrenzano Group helps organizations take control of how they are perceived™. For more information visit www.torrenzano.com.
For more information on Digital Assassination: Protecting Your Reputation, Brand, or Business Against Online Attacks visit www.digitalassassinationbook.com.
SOURCE Torrenzano Group
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