Data breaches result in CEO pay rises, study shows

guest · Mar 20, 2019

Data breaches result in CEO pay rises, study shows
March 19, 2019
https://www.arabianindustry.com/tec...-result-in-ceo-pay-rises-study-shows-6055712/

Researchers at Warwick Business School found that media reports of a cyber-attack led to a stock market "shock" as investors sold their shares, but this only lasted a few days.

Daniele Bianchi, assistant professor of finance at Warwick Business School, said: "Firms that suffer a data breach do not typically respond by firing the management, but by investing more in the existing CEO. At first sight, these results may look puzzling.

"In the long run security breaches appear to have a more significant impact on firms' strategies and policies than their cash flow."
The latest annual Cost of Data Breach Study for IBM estimates that the average cyber-attack cost $7.9 million in 2017. That equates to a record $225 cost for each record compromised.
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