Practice corporate governance for the organisation

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Reference no: EM133164938

The company has appointed a new CEO. The CEO is concerned about a number of past governance issues such as increased workplace accidents and employee injury, staff turnover, bullying and racism. The CEO has asked that you provide a report for a governance structure that demonstrates best practice corporate governance for the organisation.

You have reviewed the company website and found that the Chair of the Board is a close relative of the former CEO. He is 70 years old and has been the Chair for 10 years. There are 19 executive members on the Board. All are male aged 50+ and were born in Australia. You are unable to find any details of their remuneration. The board meet twice a year. The first meeting is at a dinner following a company-sponsored golf tournament, the other is before the company Christmas party both where spouses are also invited and alcohol is served prior to the meetings. The new CEO wants to appoint his son who has just finished his degree in accounting as the company's auditor. There are minimal company policies and they have not been reviewed since the company's inception (approximately 10 years ago).

Question: Discuss about the number, names and sizes of the subcommittees and an outline of an annual program (calendar) for meeting times of both the Board and sub-committees and frequency.

Reference no: EM133164938

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