Boston, MA 06/04/2014 (wallstreetpr) – Yes, bankers also drink soda especially after completing that high profile transaction that would bring untold benefits to the shareholders. Of course, beverage makers also need bankers to help them through acquisitions and all that. However, far from soda and loan affairs, PepsiCo, Inc. (NYSE:PEP) and JPMorgan Chase & Co. (NYSE:JPM) are related in some other ways. The two companies are among the big corporate America upping their cybersecurity game.
In the wake of heightened concerns about spying and hacking threats, PepsiCo and JPM have been noted for their extra-mile in ensuring top notch security for their trade secrets and customer details among other important information that need protection.
The companies are not only hiring top notch cybersecurity experts preferably with military or defense experience, but also elevating the positions of the technology experts to the board level. The move suggests that the companies consider that their security experts need to understand the business and risk management more than just technology. In other words, the chief information security officers (CISO) that typically reported to chief information officer (CIO) are now being given direct line to the CEO, executives and consultants.
In addition to PepsiCo, Inc. (NYSE:PEP) and JPMorgan Chase (NYSE:JPM), some other Fortune 500 companies that are making serious adjustments to their cybersecurity systems include John Deere, United Services Automobile Association and Cardinal Health.
Damaged reputation
The massive data breach that befell retailer Target Corporation (NYSE:TGT) must have come as wake up call for corporate America. The retailer suffered loss of millions of customer credit card details and personal information following an attack on its data system during the holiday season late last year. In addition to a damaged reputation, the retailer also faces possible lawsuits from the affected customers and card network operators. As for PepsiCo, Inc. (NYSE:PEP) and its peers, there is no better way to protect the reputation of the business than boosting security around sensitive data.
Growth comes with challenges
It is not lost on PepsiCo, Inc. (NYSE:PEP) that big size comes with big challenges. As PepsiCo mauls rival Coca-Cola Company (NYSE:KO) in various markets around the world, the company is also facing constant threat to its data especially the trade secrets.
