Corporate boards forced to move meetings online during the coronavirus pandemic are trying to guard against cyberattacks with secure communication platforms and instructions for members on notetaking and eavesdropping.
Boards are gravitating to platforms such as Cisco Systems Inc.’s Webex, LogMeIn Inc.’s GoToMeeting, and Microsoft Corp.’s Teams, according to directors and consultants. Nasdaq Inc. has added 2,000 customers over the past few months for its board platform that offers secure messaging and presentation aids, the company said.
The move has forced corporate leaders, often better at networking in-person than virtually, to burnish their technology skills. “Everybody’s online now, including the board,” said Bob Zukis, CEO and founder of the Digital Directors Network, which advocates for corporate governing bodies to add technology experts to their ranks.
Boards are building security into online meetings because the items they discuss, like layoffs and government loans, make them attractive targets for hackers. That’s driving demand for digital portals such as Nasdaq’s and one from Diligent Corp., which offer secure means for discussions and document sharing compared with more-easily-compromised apps.