The value of outside directors who are well-versed in digital business models, practices, and industry best practices cannot be overstated, especially for companies that are making significant investments in digital transformation or other technology changes.

The threat of high-profile cyber breaches is well understood. Responding to and recovering from a breach incurs a direct cash cost, which is only the beginning.

Directors must have a thorough understanding of the organization's digital capabilities, and a digital director can help with this assessment.

In the world of corporate leadership, there's a distinct difference between doing the right thing and doing things right.