question archive Equifax, a credit-reporting agency, disclosed that it had suffered a massive data breach affecting as many as 143 million people
Equifax, a credit-reporting agency, disclosed that it had suffered a massive data breach affecting as many as 143 million people
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Equifax, a credit-reporting agency, disclosed that it had suffered
a massive data breach affecting as many as 143 million people. Hackers had gained unauthorized access to sensitive personal data—Social Security numbers, birth dates, and home addresses—for nearly half of the United States. The company also faced multiple federal investigations including hearings at the U.S. Congress over its handling of the hack and reports that its executives had sold an unusual amount of stock before the breach was publicly disclosed. Effective corporate governance requires Equifax's board of directors to
Multiple Choice
-strengthen its oversight of the company's strategic direction, evaluate the caliber of senior executives' skills, handle executive compensation, and oversee financial reporting practices.
-play the lead role in forming the company's strategy and then directly supervise the efforts and actions of senior executives in implementing and executing the strategy.
-review and approve the company's business model and also review and approve the proposals and recommendations of the CEO as to how to execute the business model.
-work closely with the CEO, senior executives, and the strategic planning staff to develop a strategic plan for the company and then oversee how well the CEO and senior executives carry out the board's directives in implementing and executing the strategic plan.
-provide guidance and counsel to the CEO in carrying out his/her duties as chief strategist and chief strategy implementer.
