Joseph Blount, Jr., President and Chief Executive Officer, Colonial Pipeline testifies during a hearing on the Hill to examine threats to critical infrastructure, focusing on the Colonial Pipeline cyber attack. (Photo by Andrew Caballero-Reynolds-Pool/Getty Images)
At a House Homeland Security Committee hearing Wednesday afternoon, Colonial Pipeline CEO Joseph Blount touted a sweeping vision of corporate transparency in the face of cybercrime, as representatives questioned how transparent he was with the FBI and Department of Homeland Security before and after Colonial fell victim to a devastating ransomware attack.
The hearing touched on the internal and external debates that face most executives during a crippling cyberattack: How fast should a company act, and what decisions should be made internally versus in consultation with external advisers or the federal government.
“I encourage all CEOs who have been hacked and subject to a cyber attack to be very transparent about it,” he said, noting that Colonial had taken less than twenty-four hours to begin incident response, contain malware by shutting down the pipeline and escalate the issue through the FBI to the White House. “It’s the only way we’re going to learn that these attacks continue to change, ..
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