When an IT failure should mean ‘goodbye’ for a CEO

The resignation of Paul Pester as chief executive of TSB after an IT failure highlights the risks of tech going awry. But should the CEO always carry the can?

Image: Robert_Chlopas / Shutterstock.com

In August 2017, container shipping company Maersk was hit by a cyber-attack linked to NotPetya ransomware. The attack, which crippled the company and reportedly caused ships to be kept at sea, cost $300m (£232m) in revenues. TSB bank recently saw its systems crash, leaving customers facing disruption to services. CEO Paul Pester stepped down after seven years in charge. Maersk CEO, Soren Skou, is still in his job. Under what conditions does a chairman and the board decide that the top executive’s role is vulnerable when it comes to technology risk? Firstly, there a

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banking, CEOs, cyber-attack, data breaches, IT, Maersk, Paul Pester, Technology, TSB