Need for IT expertise Sample Clauses

Need for IT expertise. This section describes how relevant the directors find IT expertise in the board of directors. Most companies in this case study consider it very important to have a certain IT expertise on the board. The chairman of the board of directors of company D has experience with digital processes from his professional career. He was not elected as board member on the basis of his IT knowledge, but if there would be nobody on the board with IT knowledge, there would certainly be looked for. Company E, on the other hand, has no director with a thorough IT knowledge. The director mentions that a place has become vacant at the board of directors. This place could possibly be filled by someone with sufficient IT knowledge. The director also points out that until now, there has never been a misunderstanding from the board of directors regarding IT. However, there should still be paid more attention to it. Company E and F agree on the fact that not all members of the board should know every technical detail of the company, but they should understand the overall picture and risks. They should rely on the CIO or IT department for the technical features but a certain IT knowledge on the board is necessary. Members of the board of company F also receive training every two years on IT and occasionally there are special meetings about new IT legislations or new challenges. Together with company A, company J thinks IT knowledge in the board is of major importance because their distinctive character and growth path is in technology. Company C and G are less convinced of the importance of IT on the board than the above mentioned. Company G claims that some IT knowledge in the board of directors would certainly be useful, but not essential. However, the directors of company G have agreed that the next new director must be someone with a background in IT. Company C has the advantage that they have directors representing the major shareholders and they have an affinity with IT. No matter how big the company is, if it is a subsidiary of a large international group, then you always have an extra supervisory dimension from the top of the board. The director compares this case to another company where he is a director. The other company does not have an international shareholder. In this company, an IT expert on the board of directors was indispensable because the control must come entirely from the board of directors and not from the overarching shareholder. So, IT-expertise on the bo...
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