S&c Critical Insights

Rodge Cohen, Karen Seymour and Jay Clayton discuss what board directors need to be focused on in 2021 in a S&C Critical Insights podcast. All three agreed that the “first, indeed, existential issue for every board” is cybersecurity. “The number of cyber attacks and their sophistication is increasing exponentially,” Rodge observed. Jay agreed, adding that “every company should have a regularized approach for the board to be informed about and consider its company’s cyber profile, the threats, the potential attacks, and the defenses.” Karen said that companies should always be preparing for and considering how they would respond to a potential cyber attack. “All of this should have been rehearsed,” she said, so that if an attack occurs, “this isn’t the first time you are thinking what would happen in a crisis.” The partners also discuss topics ranging from ESG issues to executive compensation to the independence of board leadership.