Ten to 15 years ago, a board of directors would meet once or twice a year to be briefed on cybersecurity, check the box, and move on. Back then, cybersecurity was little more than an afterthought.

After Target's 2013 data breach, advisory firm Institutional Shareholder Services recommended that 7 of the 10 board members be replaced for failing to adequately oversee cyber risk as part of their duties. This report signaled a major shift in corporate cybersecurity policy. Since then, there's been a heightened interest in securing a company's data, and more senior- level responsibilities for cybersecurity are in place.

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