Just needed an explanation about if they will indeed be an ideal board based upon the Australian Securities Exchange Corporate Governance Councils Principles and Recommendations. If not, why not, and what should they do?
There are six people in this group:
1. John is a software engineer,
2. Peter is a computer network manager,
3. Paul is a management information system expert,
4. Mark is a programming language specialist,
5. David is a computer graphic designer, and
6. Chris is a computer science specialist.
All six group members are less than thirty years of age. Together they incorporate a company called "i-Design". All six of them are confident in their collective knowledge and skill regarding web design. They also believe they will be ideal directors and each of them plan to sit on the board as directors. When Peter mentioned their plans for I-Design to his father, a professional company director, his father suggested that the group seek some professional advice on the formation and composition of i-Design's board of directors. You have a thriving corporate governance consultancy business and the group of six comes to you for advice.