On Friday, Shares of Palo Alto Networks Inc (NYSE:PANW), gained 2.00% to $175.10.
A new global study, Governance of Cybersecurity: 2015 Report, developed by the Georgia Tech Information Security Center (GTISC) and supported by Forbes, the Financial Services Roundtable (FSR), and Palo Alto Networks, reveals that there has been a dramatic improvement in the attention that boards and executives are paying to cybersecurity risk administration.
The survey polled board directors and executives from Forbes Global 2000 companies, and the report compares survey results from three previous surveys conducted in 2008, 2010, and 2012.
CYBER GOVERNANCE DRAMATICALLY IMPACTING BOARD EFFORTS
The survey results indicate that, since 2008, boards and executives have been making concerted efforts to address cyber risks. Highlights of the 2015 survey and comparisons against previous survey results comprise:
- Cybersecurity has risen to become one of the top boardroom issues, with nearly two-thirds (63%) of the survey respondents actively addressing computer and information security, up from 33 percent in 2012.
- Most boards – 53 percent – have established a Risk Committee separate from the Audit Committee, up from 8 percent in 2008, which now has overtaken responsibility for oversight of cyber risk from the Audit Committee.
- Boards recently are paying a great deal more attention to cyber insurance coverage – 48 percent of the respondents said their boards were focusing on cyber insurance, up from 28 percent in 2012.
- Boards also are placing a much higher value on risk and security experience when recruiting board directors – 59 percent of respondents said their board had a director with risk expertise, and nearly a quarter (23%) had one with cybersecurity expertise.
Palo Alto Networks, Inc. provides enterprise security platform to enterprises, service providers, and government entities worldwide. Its platform comprises Next-Generation Firewall that delivers application, user, and content visibility and control, in addition to protection against network-based cyber threats; Advanced Endpoint Protection that prevents cyber attacks that exploit software vulnerabilities on various fixed and virtual endpoints and servers; and Threat Intelligence Cloud that offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber attacks.
Shares of Waste Management, Inc. (NYSE:WM), inclined 0.86% to $50.53, during its last trading session.
Waste Management, has elected Kathleen M. Mazzarella to its board of directors effective October 1st.
Ms. Mazzarella will serve on the administration development and compensation committee and the nominating and governance committee of the board.
Ms. Mazzarella is chairman, president and chief executive officer of Graybar Electric Company, Inc. (Graybar) - a leading distributor of electrical, communications and data networking products, provider of related supply chain administration and logistics services and one of the largest employee-owned companies in North America.
Waste Management, Inc., through its auxiliaries, provides various waste administration environmental services to residential, commercial, industrial, and municipal customers in North America. It offer collection services, counting picking up and transporting waste and recyclable materials from where it was generated to a transfer station, and material recovery facility, or disposal site, in addition to develops and operates landfill gas-to-energy facilities in the United States.
At the end of Friday’s trade, Shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU), gained 9.00% to $51.96.
Qihoo 360 Technology Co. Ltd., declared that it has reached a contract with Coolpad Group Limited (2369.HK) to adjust their respective shareholding in Coolpad E-Commerce Inc., a joint venture between the Company and Coolpad set up in December 2014 to focus on mobile terminal products that are distributed through Internet as the primary channel.
Under the agreement, the joint venture will redeem a portion of the shares held by Coolpad in consideration of the joint venture transferring back to Coolpad certain Internet operating assets related to “Coolpad” branded smartphones that Coolpad had formerly contributed to the joint venture. As a result, Coolpad’s equity stake in the joint venture will be reduced to 25% from 50.5%, and the Company’s equity stake in the joint venture will be raised to 75% from 49.5%.
Qihoo 360 Technology Co. Ltd., through its auxiliaries, provides Internet services in the People’s Republic of China. The company operates through Internet Services and Others segments. It offers various Internet security products, counting 360 Safe Guard, a one-stop solution for PC Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users computers against various kinds of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows Phone smartphone operating systems.
Finally, Paramount Group Inc (NYSE:PGRE), ended its last trade with 0.60% gain, and closed at $16.74.
Paramount Group, declared that it has accomplished the formerly declared purchase of the remaining 35.8% equity interest that it did not formerly own in 31 West 52nd Street from its joint venture partner for about $230 million in cash.
31 West 52nd Street is a 29-story, 786,647 square foot Class A office building located between Fifth Avenue and Avenue of the Americas in the heart of Midtown Manhattan. The property is presently leased to a number of high-profile tenants and offers extraordinary views of Central Park, Rockefeller Center and other Manhattan landmarks. The property features a large public plaza connecting 52nd Street and 53rd Street and a 120-space parking garage, ensuring convenient accessibility. Five subway lines are located within three blocks of the building and numerous luxury hotels, museums and retail stores are also located nearby.
Paramount Group, Inc. is a real estate firm that invests in Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. Paramount Group, Inc. is based in New York, New York.
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