Hacking can lead to significant corporate fines, such as the $700 million Equifax paid for a 2017 incident, but the threat to business performance runs deeper, making cybersecurity a top ESG factor.
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Equifax executives will forgo their 2017 bonuses in the wake of the company's devastating cybersecurity incident, CEO Paulino Barros said on the company's earnings call Friday.
Barros said he and other executives would receive no incentive compensation "due to the impact of the cybersecurity incident."
Total incentive-based compensation, in the form of cash bonuses, accounted for $83.1 million of Equifax's total compensation in 2016, according to company filings.
The incident in which hackers gained access to the personal data of more than 145 million Americans represented a "one-time charge" of $87.5 million, CFO John Gamble said on the call.
- CNBC's Tucker Higgins contributed to this report.