Only 14.2% of directors from 307 public companies have technology skills

This article presents an interesting compilation of the board skills matrix disclosed by 307 public American and Canadian companies. Not surprisingly, 99% of boards require financial expertise and 75% of all directors have that skill. Such strong financial skills representation in directors does not match the need for more board diversity. More troubling is the fact that only 36.8% of companies included the need for technology expertise in their board competencies, and that only 14.2% of directors qualified for that skills, the lowest of all ranking. The board has an essential role to play in the digital transformation of many businesses and in cybersecurity. This very low representation of technology skills at the board is a warning that change is required. Is the composition of your board what it should be?