• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
TechData Sheet

Could Your Board Use a Digital Overhaul?

By
Heather Clancy
Heather Clancy
Down Arrow Button Icon
By
Heather Clancy
Heather Clancy
Down Arrow Button Icon
July 18, 2016, 8:30 AM ET
Boardroom generic, 27 November 2006. AFR Picture by PETER BRAIG
(AUSTRALIA & NEW ZEALAND OUT) Boardroom generic, 27 November 2006. AFR Picture by PETER BRAIG (Photo by Fairfax Media via Getty Images)Peter Braig—Fairfax Media via Getty Images
Add Fortune on Google for similar content.

The top five companies on the 2016 Fortune 500 ranking represent a diverse set of industries, but there’s one big thing they have in common—their directors are well-represented by executives who understand digital technology.

Consider that giant retailer Walmart’s (WMT) board includes both Instagram co-founder Kevin Systrom and Yahoo (YHOO) CEO Marissa Mayer. Or that energy company ExxonMobil (XOM) gets advice from Xerox (XRX) CEO Ursula Burns and former IBM (IBM) chairman Sam Palmisano, both of whom were on the vanguard of today’s digital business movement. Health care company McKesson (MCK) counts on Intel (INTC) chairman Andy Bryant and former Qwest Communications CEO Ed Mueller for insights. Warren Buffett’s Berkshire Hathaway has a trio of digital mavens: Microsoft (MSFT) co-founder Bill Gates, former Yahoo president Susan Decker, and Comcast (CMCSA) executive vice president Steve Burke. (I’m not including Apple because, after all, it is a digital company.)

Recent research from McKinsey suggests these organizations are ahead of their peers and rivals in this regard. Indeed, the consulting firm figures that less than 20% of current boards have the sort of digital literacy required to consider the impact that technologies such as artificial intelligence, data analytics, or the Internet of things will have on their industry. Only 5% of corporate boards in North America actually had technology committees (as of last year, at least), McKinsey reports.

Sign up for Data Sheet, Fortune’s daily technology newsletter.

What’s the solution? Clearly, recruiting more digital-savvy directors should be on the minds of all nominating committees with the caveat that these individuals may “look” different. For one thing, they’ll probably be younger than the average corporate director. They’ll also probably be used to more entrepreneurial, startup-inspired styles of management or organization, which means that might have little tolerance for processes that slow down decisions. That could mean changes for recruiting strategy and for the time commitment required by directors everywhere.

Equally as important, however, will be initiatives that help experienced directors improve their own digital IQ. That could include co-mingled councils made up of members with very different backgrounds or schemes that use directors to test out new software and applications, suggests McKinsey. It could also mean more frequent, less formal board gatherings.

Don’t like the idea of changing the current way of doing things? Then your company should resign itself to the idea of letting competitors control the pace of digital disruption.

About the Author
By Heather Clancy
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

Man in a suit gesturing
Big TechAmazon
Andy Jassy said Amazon will spend $220 billion this year—and still won’t have enough capacity to meet demand
By Amanda GerutJuly 30, 2026
2 hours ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
Big TechApple
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
2 hours ago
nyse
InvestingMarkets
Microsoft’s $480 billion rally fuels a debate: Financial nihilism or the true AI moat finally coming into view?
By Nick LichtenbergJuly 30, 2026
5 hours ago
Man with glasses and a black collared shirt
Big TechMicrosoft
Microsoft’s stock has biggest one-day gain since 2008, adding $480 billion in market value as cloud business booms
By Amanda GerutJuly 30, 2026
6 hours ago
Visitor look at their phone next to an Open AI's logo during the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. The world's biggest mobile phone fair throws open its doors in Barcelona with the sector looking to artificial intelligence to try and reverse declining sales. (Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)
Startups & VentureOpenAI
‘I’m just stuck’: Meet the former OpenAI researcher sitting on $700K of equity that he says is overvalued
By Eva RoytburgJuly 30, 2026
7 hours ago
OpenAI CEO Sam Altman walking.
AIEye on AI
As the AI industry calls for help to “pace” AI development. Has OpenAI already hit pause on some development?
By Beatrice NolanJuly 30, 2026
9 hours ago

Most Popular

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
1 day ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
1 day ago
Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
Real Estate
Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
By Catherina GioinoJuly 30, 2026
19 hours ago
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
Retail
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
By Nick LichtenbergJuly 30, 2026
15 hours ago
Current price of oil as of July 30, 2026
Personal Finance
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
16 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
6 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.