According to the 2019 Global CEO Outlook published by KPMG International, business leaders in the oil and gas sector are optimistic about the future with 91% of responders expressing confidence about their organization’s growth prospects, while 86% also recorded confidence in the growth prospects of their industry.
However, the report also revealed business leaders have growing anxieties about existential threats and ranked cybersecurity as the biggest threat to organizational growth, followed by the risks caused by environmental and climate change, disruptive technology, territorialism, and operations.
“Business leaders must remain vigilant and avoid complacency when it comes to governance in cyberspace. We operate in a digital world today where breaches can happen anytime. Complacency will only increase the risks across the business, with lasting impacts not just to the company’s financial performance but also to their reputation. Ultimately, smart leaders are those who are making cyber preparedness a board priority, stress-testing the resilience of their systems and people to withstand an attack.” said Datuk Johan Idris, Managing Partner of KPMG in Malaysia.