While centralizing authority for cybersecurity matters in the White House can have benefits, care needs to be taken to maintain a balance of power, she said. "We need to make sure that no one is pushing the red panic button without making sure there are other individuals in the decision-making process and at the appropriate levels to get input from," she said.

Obama did a "great job" of summarizing the cybersecurity threats the nation faces and the approach that's needed to resolve them, said Scott Charbo, former deputy undersecretary of the National Protection and Programs Directorate at the Department of Homeland Security (DHS).

Especially encouraging is the president's focus on setting specific milestones and on ensuring accountability within government, said Charbo, who is currently director of cybersecurity at Accenture. Obama's apparent plan to give the new cybersecurity coordinator a greater say in ensuring that federal agencies are investing adequate resources on cybersecurity is also a very positive step, he said. But successfully moving forward on a White House-led cybersecurity effort will require a "cultural transformation" by government agencies.

"I think everyone is anxious to understand who the cybersecurity coordinator will be," Charbo said. "It needs to be someone who can listen to new ideas. It needs to be someone who is focused on outcomes and on metrics."

Ensuring that all of the right players are at the table when developing a national cybersecurity strategy will be key, added Billy O'Brien, former White House director of cybersecurity and communications systems policy. O'Brien is now an analyst at Deloitte.