These changes have been slower, however, to infiltrate the workings of corporate boards in the UK and the rest of Europe. Among the FTSE 100, for example, just 1.7 percent of non-executive directors (NEDs) would qualify as ‘digital’ — that is, executives who have spent the bulk of their careers either in companies where the Internet is central to the business model, or in strategic roles focused on leveraging the Internet.
Most chairmen would characterise digital issues as important to the board. Undeniably, these changes are altering business models, giving rise to new competitors and creating new risks and opportunities. Navigation of this shifting landscape cannot be left to the executive team alone."