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Erik P.M. Vermeulen on the “Board of Directors” and “Disruptive Technologies” in Kuala Lumpur

Erik P.M. Vermeulen participated in the OECD Asian Roundtable on Corporate Governance in Kuala Lumpur on November 7 and 8. He spoke at and moderated a session on the "ability of the board of directors to deal with disruptive technologies.

In short, his message was that “doing business” is changing rapidly in the digital age. Brand loyalty is disappearing. Millennials don't want to work for companies that are organized as hierarchies, tick the corporate governance boxes, and operate according to stringent procedures and processes.

Also, more and more “internal issues” are discussed in the public domain. The recent letters of employees of tech companies raising concerns about the use of artificial intelligence by third-party contractors (mainly the government) are clear examples of this new normal.

Business is now done at the intersection of technology, new (and sometimes disruptive) products/services, internal culture, and the environment (society and its stakeholders). This means that we need directors with different skillsets and experience. More information about the required skills can be found in his piece on Hacker Noon.