Why Cybersecurity Should Be a Board-Level Priority in Every Company – Perspective from Serhii Mikhalap

Cybersecurity is no longer a technical afterthought, thanks to today’s interconnected world. It’s a boardroom imperative. As online threats become more sophisticated and breaches grow costlier, businesses are realising that digital security must be embedded into corporate governance. But what does it mean for cybersecurity to be a board-level priority, and why are many companies still lagging?

Cybersecurity expert Serhii Mikhalap believes the answer lies in mindset. With over nine years of frontline experience, including leading national cyber defence operations and co-founding a cybersecurity startup, Mikhalap has witnessed firsthand the consequences of treating cybersecurity as a checkbox exercise rather than a strategic pillar.

Serhii Mikhalap

****A Career Forged in Critical Response****

Mikhalap began his career in 2016 as an analyst in Ukraine’s national Security Operations Center (SOC). Tasked with responding to advanced persistent threats (APTs) against government and private infrastructure, he developed a nuanced understanding of how threat actors behave.

“We weren’t just identifying malware,” Mikhalap recalls. “We were tracing the motives behind it, mapping out adversaries’ long-term goals and how they infiltrated supply chains.”

By 2020, he transitioned to the commercial sector, initially working as an incident responder and later leading SOC teams at a global cybersecurity provider. His work involved building two SOCs from the ground up, integrating automation, playbook triage, and 24/7 monitoring. Clients included fintech and payment tech companies under tight regulatory scrutiny.

In 2024, Mikhalap co-founded a security-as-a-service startup catering to startups and SMBs in crypto, banking, and transactional tech. His team provides penetration testing, DFIR (digital forensics and incident response), risk assessments, and security audits.

“Cybersecurity is not just about prevention. It’s about response, recovery, and trust. And that trust starts with leadership,” he says.

****Recognizing Excellence****

Mikhalap’s impact hasn’t gone unnoticed. In 2022, he was awarded Ukraine’s national “Znak Yakosti” (Sign of Quality) for his exceptional professionalism in cybersecurity. The award committee highlighted his work in incident response, strategic defence planning, user training, and digital forensics.

In 2023, he was named a Laureate of the national “Award for High Reputation,” honouring his commitment to ethical business practices, responsibility, and quality. These recognitions underscore his credibility as a leader who blends technical rigour with integrity.

****Why the Board Must Own Cyber Risk****

According to Mikhalap, placing cybersecurity on the board agenda is not optional; it’s essential. “Boards oversee strategic risk. And in 2025, cyber risk is strategic risk,” he states.

Yet many boards lack the expertise to understand technical vulnerabilities, let alone align security with business objectives. This creates a dangerous gap.

“The absence of cyber literacy at the top leads to misallocated budgets, underprepared response plans, and overreliance on vendors,” he warns. “Cybersecurity needs to be treated like finance or legal, a domain with its own metrics, language, and accountability.”

He advocates for regular board-level briefings from CISOs or external experts, with a focus on:

• Compliance obligations
• Incident response readiness
• Investment priorities for resilience
• Current threat landscape and trends
• Business-critical assets and their exposure

Mikhalap believes that by framing cybersecurity in terms of business continuity and reputational risk, boards can better understand its value.

****The Cost of Inaction****

A recurring theme in Mikhalap’s work is the hidden cost of inaction. “A breach doesn’t just cost money. It erodes trust. It exposes negligence. It can derail an IPO or M&A deal.”

In regulated industries, the consequences are even more severe. Fines, lawsuits, and regulatory bans are all on the table. “But the bigger issue is competitive disadvantage. If your rivals are investing in resilience and you’re not, you’re playing catch-up after the damage is done.”

****Building a Culture of Shared Responsibility****

Mikhalap emphasises that board involvement should go hand-in-hand with cultural change. Security cannot succeed in isolation.

“We need to break down the myth that cybersecurity is IT’s problem. It’s everyone’s responsibility. From HR to finance to product teams, every function needs to understand its role in managing cyber risk.”

To support this, his company offers custom training modules that align security practices with job roles. They also help businesses simulate attacks to test executive decision-making under pressure.

“When leaders go through a simulated breach scenario, they understand the stakes. They realise it’s not just about firewalls. It’s about reputational damage, legal exposure, and business survival.”

****What Progressive Boards Are Doing Right****

Mikhalap highlights a few practices that forward-thinking boards are embracing:

• Cyber risk as part of enterprise risk management (ERM): Integrating security into broader risk dashboards.
• Board education: Hosting workshops or onboarding sessions for new members.
• Independent assessments: Hiring third-party experts to conduct maturity reviews.
• Scenario planning: Running tabletop exercises for executive teams and directors.
• Budget alignment: Ensuring security investments match the company’s digital footprint and threat exposure.

He notes that boards don’t need to become cybersecurity experts. But they must ask the right questions and expect clear, actionable answers.

****Anticipating Tomorrow’s Threats****

Looking ahead to 2025 and beyond, Mikhalap sees growing urgency for companies to incorporate cyber strategy into long-term planning. As ransomware, AI-driven attacks, and supply chain breaches increase in scale and complexity, he argues that boardroom priorities must evolve accordingly.

“Cybersecurity is no longer about defending the network perimeter. It’s about managing digital risk across the enterprise. It’s about resilience. And it starts with leadership that understands what’s truly at stake.”

****The Bottom Line****

For Serhii Mikhalap, the message is simple that cybersecurity belongs in the boardroom. Not just during a crisis, but as part of routine oversight.

“If you’re not discussing cyber at the board level, you’re leaving your organisation vulnerable, technically and reputationally,” he says. “Cybersecurity is now a business enabler. Boards that get this right will lead with confidence. Those that don’t will fall behind.”

(Image by Cliff Hang from Pixabay)