The retail industry will overhaul C-suites and boardrooms by 2020, according to a study released today by Women’s Wear Daily and Berglass+Associates, an executive search firm targeting retail and consumer goods.

Only 22 percent of survey respondents believe their board of directors today is very effective. Sixty percent believe the makeup of the board, including experience and skillsets, will change by 2020, with 72 percent of these respondents expecting the board to add leaders with technology backgrounds, and 64 percent expecting to add leaders with global expertise.

“There are changes happening so fast in our industry that the present feels like the future,” said Les Berglass, founder and CEO of Berglass+Associates. “The need for leadership talent that aligns with an increasingly savvy consumer will drive a virtual redefinition of both the C-suite and boardroom.”

According to the report, the biggest change to the C-suite will be the addition of a chief customer officer; 5 percent of the companies surveyed have a CCO today while nearly 25 percent expect to fill this role by 2020.

Nearly 70 percent of respondents believe that C-suite leadership coming from outside of the retail industry will increase by 2020, specifically from technology (57 percent), pure-play e-retailers (51 percent) and consumer packaged goods (43 percent).

Survey participants recognized merchandising among the top three most important skillsets of a retail CEO both today and in the future. Digital/technology and global expertise round out the top three most important skillsets that will be required of successful CEOs in 2020.

The online survey was conducted in July and August 2014. It included 127 US business leaders involved in the retail industry — including blended wholesaler/retailers, physical store operators, pure-play e-commerce, and investment community professionals — primarily focused on the apparel, accessories, footwear, beauty and consumer goods sectors.