OTA WiFi vulnerability - what can be done? Several Android phones appear to be vulnerable to an exploit in the WiFi firmware, allowing an attacker to run malicious code on the WiFi SoC, and even execute code in kernel space. Google patched its Pixel phones and some recent Nexus models, but older models such as the Nexus 5 have no patch available yet. It seems that no attack is known in the wild yet, but if there was one it could spread quickly from device to device.

I have a Nexus 5; what can I do to secure my phone? For now I have WiFi turned off, but that significantly reduces the usefulness of my phone. I'm comfortable running commands with adb to install drivers, if that's possible. I'm also willing to install another OS, although I'd rather not have to.
This Chip is common in many Phones. The details of the exploit are sufficiently well known as are 1000's of others, the chance of the average person getting hit is low (unless you work somewhere interesting and keep interesting Info on your Devices - Computer, Tablet, Phone, even some TV's are spying).

Partial List of affected Phones with this Chipset: Nexus 5, 6 and 6P, most Samsung flagship devices, and all iPhones since the iPhone 4. 

So many are affected. It someone were so inclined they could own any Device with this Chipset within WiFi range - chances of it being your Device is remote, so don't lose sleep just Update (if you're really worried).

Updating to the newest Firmware and Software is almost always the correct answer to this problem - rarely new Updates introduce worse vulnerabilities.

So, always Update. It's the only Solution. This one Hack is not the only thing affecting your various Devices. Updating prevents all but Day-0 and the as yet unrepaired Bugs. If it's worth it for your Boss to pay let them know.

See: 
Part 1: https://googleprojectzero.blogspot.ca/2017/04/over-air-exploiting-broadcoms-wi-fi_4.html?m=0
Part 2: https://googleprojectzero.blogspot.ca/2017/04/over-air-exploiting-broadcoms-wi-fi_11.html?m=0