pandemic forced As companies around the world adjust to a “new normal”, which has led many leaders to advance their business strategies and adopt new technologies to continue operating. In times of chaos and change, there is no senior leader who can navigate such change better than the CTO.
CTOs not only understand the changing technological landscape, but they also provide invaluable insights to help organizations go beyond traditional IT conversations and leverage technology to successfully grow businesses.
Faced with pressure to be strategic and thoughtful on how to evolve in an increasingly iterative world of technology, and a CTO uniquely positioned to address specific challenges.
There are more reasons now than ever to consider adding a CTO to your board. As a CTO, I know how important and influential it can be to have tech-minded leaders on a company’s board of directors. At a time when companies are accelerating their digital transformation, it is important to have diverse technological perspectives and people from different backgrounds, as change is a mix of people, process and technology.
Here are five hidden benefits of having a place at the table for a CTO, based on my experience on Lightbend’s board of directors.
A unique mind (and skill) set
Currently, most of the board of directors is made up of former CEOs, CFOs and investors. While such executives bring vast experience, they have very specialized expertise, and this often does not include technical proficiency. For a company to be successful, your board must consist of people with varying backgrounds and expertise.
Inviting different perspectives forces companies to break out of the group mindset and find new, creative solutions to their problems. Diverse perspectives aren’t just about the title—racial ethnicity and gender diversity are clearly at play here as well.
deep understanding of technology
For a product-led company, having a CTO who has been close to product development and innovation can bring deeper insight and understanding to the boardroom. Faced with pressure to be strategic and thoughtful on how to evolve in an increasingly iterative world of technology, and a CTO uniquely positioned to address specific challenges.