Boards are adding Directors from outside industries to gain a fresh perspective:
While boards continue to add gender and racially-diverse candidates to comply with NASDAQ board diversity requirements (which now require NASDAQ-listed companies to submit a board diversity matrix), boards are also focused on a different type of diversity: diversity of thought. Many boards are adding directors from other industries to gain fresh, outside-the-box perspectives. In cases where the company is in a heavily regulated industry, such as financial services or healthcare, they’re often seeking to add board members who have shown they can be innovative within other strictly regulated industries.
Tech & Banking Cross-Industry Board Appointments
- First Republic Bank named Rick Osterloh as Non-Executive Director (NED). He is Senior Vice President of Devices & Services at Google.
- Alphabet Inc. named Ramón Chavez Márquez as NED. He previously served as CFO of Goldman Sachs.
- PTC named Michal Katz as NED. She is the Head of Banking, Americas at Mizuho Americas.
Healthcare & Tech Cross-Industry Board Appointments
- Humana named Brad D. Smith as NED He previously served as Executive Chairman, President and CEO of Intuit Inc.
- Pear Therapeutics named Shiva Rajaraman as NED. He previously served as CTO of WeWork and VP of Commerce at Meta.
Consumer & Tech Cross-Industry Board Appointments
- Clorox named Julia Denman as NED. She is Corporate Vice President and Head of Internal Audit Enterprise Risk and Compliance at Microsoft.
- Coca-Cola named Carolyn Everson as NED. She is former Vice President of Global Marketing Solutions of Meta Platforms Inc.
- Ralph Lauren named Debra Cupp as NED. She is Division President of Microsoft US.
Stopping “quiet quitting” by appointing Heads of Digital Workforce / Employee Experience
As companies have become more accepting of remote/hybrid work, they’ve shifted their focus to increasing employee engagement (in order to stop “quiet quitting”), improving onboarding and ensuring employees can be efficient regardless of location.
While these mandates have previously been overseen by the CIO, more companies are adding a dedicated Head of Digital Workforce / Employee Experience (EX).
How big of an impact can these execs have on your company’s bottom line? A big one when you consider:
- Companies who focused on Employee Experience achieved 1.8 greater revenue growth
- Companies who use preboarding techniques retain 81% of their first year hires (which is a staggering stat when you consider how often people are now changing jobs; the average employee tenure is only 1.1, years at Google, 1.8 years at Uber and 2.1 years at Dropbox).
Examples of Employee Experience & Head of Digital Workplace Appointments
- TD hired Kevin Cassady as Global Head of Employee Enablement. He was previously Global Head Digital Workplace at PNC.
- BlackRock hired Satish Sinha as Global Head, Digital Workplace Technology and Engineering. He previously served as Global Head, Digital Workplace Services at Zensar Technologies.
- Morningstar hired Samuel Castano as Head of Global IT Employee Experience. He was Director of Digital End User Services, Strategy & Process Optimization at United Airlines.
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