Published: February 13, 2013
Washington – Business Roundtable, representing CEOs of leading U.S. companies from every sector of the economy, today commented on President Obama’s promulgation of an Executive Order and a Presidential Policy Directive establishing a new strategic direction for the nation’s management of cybersecurity risks.
“Safeguarding America’s strategic information systems, most of which are privately owned and operated, is a top priority for CEOs, but we need help from government that only government can provide, including intelligence information to counter growing threats” said Ajay Banga, President and CEO, MasterCard Worldwide, and Chair of the Business Roundtable Information and Technology Committee.
Last month, Business Roundtable outlined a plan for a more flexible and collaborative approach to protecting America’s cybersecurity in a report entitled “More Intelligent, More Effective Cybersecurity Protection.” The report offered key elements of an effective cybersecurity policy beginning with the single most important element: information sharing.
“We are encouraged that the Executive Order will facilitate additional information sharing between government and the private sector and look forward to working with the Administration to ensure that the voluntary standards framework proposed in the Executive Order is risk-based, agile and accommodating of evolving cybersecurity threats,” continued Banga.
“As implementation of the Executive Order proceeds, we urge Congress to advance narrow legislation that complements the information-sharing goals of the Executive Order,” said Business Roundtable President John Engler. “Of paramount importance is the passage of legislation that includes strong legal and privacy protections to facilitate robust information sharing. At the same time, we encourage Congress to monitor the implementation of the new cybersecurity standards framework called for in the Executive Order before legislating further in this area. Business Roundtable companies will follow the implementation of this framework closely to determine its impact and will provide feedback as necessary to both the Administration and Congress.”
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with more than $7.3 trillion in annual revenues and nearly 16 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – equal to 61 percent of U.S. private R&D spending. Our companies pay $182 billion in dividends to shareholders and generate nearly $500 billion in sales for small and medium-sized businesses annually.
BRT companies give more than $9 billion a year in combined charitable contributions.