Now, now, it isn't going to be
that hard.
Given the importance, one might even suggest, the essential, nature of technology to business survival, let alone success these days, adding directors to corporate boards who have substantial experience with the digital economy would seem as important as having lawyers, accountants, fellow CEOs and crisis managers.
But despite that seemingly obvious need and advantage, such directors are underrepresented on many Global 500 corporate boards. The reasons for this are cultural, social and experiential.
Corporate boards tend to be stocked with 'PLUs' - people like us. In other words, other corporate guys (and a few, um, 'gals') who came up through finance and marketing. Many have MBAs or engineering degrees. They also tend to be people who have already established a record of achievement over many years and, increasingly, many international assignments. They play golf, they went to many of same schools - or other schools pretty much just like them - and they share a certain outlook about business, politics, the right place to vacation and the advantages of bordeaux versus cabernet sauvignon. This is not to say that they are dumb, or superficial. That may occasionally be true, but the odds are against it: there is too much money at stake.
There may be, however, a certain insularity in the selection process. People want to serve with those who make them comfortable and CEOs want supporters, not critics, even if they are from outside the company and do not officially report to him or her.
By their very nature, tech executives, though no slouches when it comes to business and finance (or even golf and cabernet), do tend to be younger thanks to the age of their industry, have somewhat different educational and/or professional backgrounds and may not share the same world outlook. All of which should be an advantage to any pragmatic, ambitious corporation looking to capture the future. As the following article explains, that does appear to be dawning, however slowly. Overcoming social barriers if often harder than breaching professional ones. But necessity and financial opportunity - or threat - do tend to concentrate the mind, enabling the heart, in this case, to follow. JL
Joann Lublin reports in the Wall Street Journal:
Nearly every facet of corporate life has gone digital. But many
public-company boards remain stuck in analog mode.