Feldman Quoted in Inside Counsel Regarding Need for Corporate Board Technology Expertise and Special Committees
Inside Counsel published an article on January 1 quoting Olshan Corporate Partner Spencer Feldman regarding how technology expertise is now a staple for corporate boards and corporate general counsel. The article addresses the degree of technology expertise corporate boards should possess and whether they should have separate technology committees. Feldman points out that these committees can define the company's overall technology strategy and help when corporations make key decisions about issues such as their overall capital investment in new technologies, moving to the cloud, employees’ use of mobile devices, and new computer systems. Feldman also says the committee should be a cross-section of the board and favors a balance between inside and outside directors with the necessary expertise. “A technology committee can also be set up as a standing committee that only meets when necessary, or as an ad hoc committee in connection with an acquisition to make sure the target's systems are compatible with your own,” he advises, noting that the committee's mission statement may vary from company to company.
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