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.

Innovation is at the forefront of Proctor & Gamble's business strategy, so much so that the company has established a board committee dedicated entirely to innovation.

When a company is going through a significant transformation, such as a merger, acquisition, restructuring, or major strategic shift, it is essential for the board of directors to be actively engaged and provide effective oversight.