Clorox CISO flushes self after multi-million-dollar cyberattack

Clorox CISO flushes self after multi-million-dollar cyberattack

November 15, 2023 at 07:46PM

The chief security officer of Clorox, Amy Bogac, has left her position following a corporate network breach that cost the company hundreds of millions of dollars. In separate news, ransomware group AlphV has claimed to have breached digital lending firm MeridianLink and filed a complaint against the company with the Securities and Exchange Commission. Clorox reported a 20% decrease in net sales for Q1 2024 due to the cyberattack, resulting in expenses of $24 million.

Key takeaways from the meeting notes:

1. Amy Bogac, the Chief Information Security Officer (CISO) and VP of Enterprise Security and Infrastructure at Clorox, has left her job following a corporate network breach that cost the company millions of dollars. Bogac’s last day at Clorox was Friday, according to an internal memo reviewed by Bloomberg News.

2. Ransomware group AlphV (also known as BlackCat) claims to have compromised digital lending firm MeridianLink and has filed a complaint with the US Securities and Exchange Commission (SEC) against the firm for failing to disclose the intrusion. The breach allegedly occurred on November 7, and MeridianLink was reportedly aware of it on the same day.

3. AlphV’s submission to the SEC accuses MeridianLink of making a “material misstatement or omission” in its filings and financial statements, or a failure to file. The group has given MeridianLink 24 hours before publishing the stolen data.

4. Clorox first disclosed its network breach in an SEC filing in August, stating that its IT systems and operations had been temporarily impaired due to unauthorized activity. The intrusion caused widespread disruption across the company, including processing orders manually and availability issues with consumer products.

5. The cyberattack has had a significant financial impact on Clorox, with a 20 percent drop in year-on-year Q1 net sales reported in its first-quarter fiscal 2024 earnings report. The decrease was largely attributed to the cyberattack. Clorox incurred expenses of $24 million related to the network break-in for the three months ending September 30, primarily for third-party consulting services, IT recovery, forensic experts, investigation, and remediation.

6. Chau Banks, the Chief Information and Data Officer of Clorox, who reportedly wrote the internal memo, will assume Bogac’s role while the company searches for a replacement.

Please note that these takeaways are generated based on the provided meeting notes and may not capture all details or context.

Full Article