We do need a cyber security bill, but it should be passed by Congress, whose job it is to iron out all the competing needs, instead of passed by fiat by a wanna-be king[1] who "knows what's best for the country".
1. EO's aren't the exclusive domain of Obama by any stretch. Every president since HW Bush has used them in increasing number and, IMO, in increasing defiance to the separation of powers. Another 20 years and Congress will be nothing but a complete farce, much like other dictatorial "republics".