Giant technology companies have had plenty of action with their boards the first half of 2018. This is the second of a two part series of updates.

In this Edition -Tech Boards in 1H2018

  • Board Trends
  • Board Members Appointed/ Resigning by Functional Role & Gender
  • Board Leadership Changes: Companies Combining Chairman/CEO Roles; Companies Naming New Chairmen (non-CEO); Companies Naming New Lead Directors
  • CEO Successions: internally and externally sourced
  • Board Members Appointed/Resigning by Function: external CEOs/Presidents/GM; CFOs/Audit and Investment Professionals; CIOs/ CTOs. CISOs, Privacy.

Vell Executive Search captures the most recent board appointments in tech, from October 29, 2017 to February 8, 2018.

Tech Giants

Alphabet Names Board Veteran as Chairman to Succeed Schmidt. Alphabet appointed John L. Hennessy, 65, former President of Stanford University, to serve as Executive Chair of Alphabet’s Board. Hennessy has served on the Board since April 2004 and Lead Independent Director since April 2007. Eric Schmidt, 62, becomes technical advisor to the company while continuing to serve on its board. Alphabet said that Canadian-born Shirley M. Tilghman, 71, 19th President of Princeton University, also retired from the board effective Feb. 15, 2018.

Vell Executive Search captures the most recent female board appointments in tech, from November 23, 2017 to January 28, 2018.

Tech Giants Welcoming Women on Board

Microsoft Elects Former US Secretary of Commerce as Newest Board Member. Entrepreneur, civic leader and philanthropist and former United States Secretary of Commerce Penny S. Pritzker, JD, 58, joins as director of Microsoft.

Broadcom Appoints Former Benchmark Electronics CEO as Independent Director. Broadcom appointed Ms. Gayla J. Delly, 57, as an independent director of the company. Ms. Delly served as CEO of Benchmark Electronics.

Vell Executive Search captures the most recent female board appointments in tech, from September 17 to November 22, 2017.

Tech Giants Welcoming Women on Board

eBay appoints Adriane Brown and Diana Farrell to its Board - Ms. Brown, 59, is former CEO, Honeywell Transportation Systems. Ms. Farrell, 59, is the Founding President and CEO at JPMorgan Chase Institute, a global think tank and former McKinsey.

Fidelity National Information Services Appoints Louise M. Parent, 67, as Director - A former EVP and general counsel of AmEx, Parent has more than 35 years of experience in the financial industry. Parent retired from American Express in 2013.

Square Announces Ai Expert Anna Patterson, 52, as Newest Board Member - Patterson is the Founder and Managing Partner at Gradient Ventures, google’s AI focused venture fund.  Patterson is also VP of Engineering at Google and most recently helped to integrate AI into products across Google.

What were the important tech board changes in the most recent couple of months? This leadership report covers tech board changes from 8/26 to 10/29 in 2017.  

We have three categories, roughly organized by company size. Industries/ categories per CapIQ classifications.

  • The Giants ($100b+ market cap): Microsoft, Samsung, Intel, Cisco
  • The Software Companies: Paypal, Salesforce, Intuit, eBay, RedHat, ServiceNow, Twitter, Square, Citrix, Splunk, Fortinet, FireEye and any others.
  • Others (Telecom, Hardware, Services, Payments): HP, Inc., Infosys, Ericsson, TSYS, Micro-Semi, TSYS, FLIR, Cypress Semi., Cree, Convergys, Blackhawk Networks, Boingo, ScanSource and others.

Some basic stats:

19.7% of the new board seats went to women;
15.6% of the board seats removed were women held seats.

Tuesday, 31 October 2017 01:58

Simple steps to your next board seat

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Are you seeking your next board seat in a technology company? It is often helpful to look at the current composition of technology boards and what skills and experiences are currently in demand. 

Guy moving through brick wall jpegPublic Tech Companies over $100m

We studied public technology companies studied in the US and Canada with at least $100m in revenues.

The number of companies is 581.  There were 4,305 individual board members occupying 4,830 board seats.

Most important hiring and departures from June 11 to August 25, 2017

Several technology vendors announced changes to their board of directors in the said time period. We have tried to capture the most important and interesting ones, categorizing them under few noticeable patterns. 

Chairman Changes

  • Cerner Announces New Chairman after Sudden Demise of Chair/CEO Neal Patterson. Cerner announced that Neal Patterson, chairman and CEO, passed away on July 9, 2017, at 68 years of age, due to unexpected complications that arose after a recent recurrence of a previously disclosed cancer. Cerner Co-Founder and Vice Chairman of the Board Cliff Illig, 66, has been named chairman and interim CEO.
  • IDT Appoints Board Member Ken Kannappan as Chairman. Kannappan has served on IDT's Board since January 2015, after previously serving in the role of IDT Board Chairman from 2000 to 2008. John Schofield has resigned as Chairman in anticipation of his upcoming retirement. 
  • Acer Combines Chair-CEO Roles. Jason Chen was named Chairman in addition to his continuing role as CEO. George Huang steps down from the chairmanship but remains on the Board. Chen joined Acer in January 2014 as Corporate President and CEO.

Rockwell Automation Appoints TSYS CIO as Newest Board Member

Rockwell Automation announced that Patricia Watson, 50, has been elected to the company’s board of directors. Watson is senior EVP and CIO at Total System Services (TSYS). She currently serves as a board director for Texas Capital Bancshares.

TCS Independent Director Retires from Board 

Tata Consultancy Services said independent director Vijay Kelkar has stepped down from the board upon reaching the retirement age set by the IT services company. Kelkar, a Padma Vibhushan award winner, is an Indian economist and academician. He has been on the board of TCS since 2010. 

Zurich Insurance Group Appoints BofA Technology Leader to Board

Zurich Insurance Group announced that its board has elected Bank of America's Chief Operations and Technology Officer Cathy Bessant as a director. In her role at Bank of America, Bessant oversees about 95,000 employees and contractors in 35 countries in the bank's global technology and operations group. Bessant previously chaired the Charlotte Chamber and the Foundation For The Carolinas.