Board Advisory

As the importance of technology to the success of a company has increased, so has the percentage of Board Directors with a technology background*.  For companies without this background amongst their Directors, access to knowledgeable and experienced Board Advisors is critical to close this gap.

The exposure of a Board to risk of cybersecurity threats or technology deficit is just as great as that posed by insufficient management controls or improper accounting actions.  As a result, more Board seats are being filled by technologists today than in the past. Alternatively, many Boards have taken steps to add a Board Advisor to offset the lack of technology background.  TCE staff has served numerous Boards in advisory roles.  These have typically taken the shape of a multi-year, retained engagement, that provides Board Directors swift access to technical experts for an unbiased and objective assessment of topics brought before the Board.  In some cases, this has included participation in Board meetings in a non-voting status, while in others serving more as an on-call resource for guidance on pertinent topics.  In addition, TCE has conducted a number of fixed-scope engagements for Boards, including Technology Capability Assessments, IT Governance Process implementations, IT Leadership Talent Assessments and Interim CIO/CTO Staffing.

*National Association of Corporate Directors data shows that 43% of board directors at S&P 500 companies and 38% of those in Russell 3000 companies had technology backgrounds, up from up from 34% and 33% in 2018.