The Board consists of:
Independent non-executive chairman - accountant
Independent non-executive director - accountant
Independent non-executive director - lawyer
Independent non-executive director - banker
Independent non-executive director - business development/advertising
An example of a skills matrix for analysis of Boards and their capabilities/capacity:
| Column 1 | Column 2 | Column 3 | Column 4 |
|---|
| 1 |
| Skills, Diversity and Experience of the Board | Chairman | Director 1 |
|---|
| 2 |
| Leadership | | |
|---|
| 3 |
| Corporate Governance and Compliance | | |
|---|
| 4 |
| Regulatory Compliance | | |
|---|
| 5 |
| Membership of Governance or Regulatory Bodies | | |
|---|
| 6 |
| Position held on Financial Bodies and Councils | | |
|---|
| 7 |
| Strategy | | |
|---|
| 8 |
| Senior Management positions held outside RFG | | |
|---|
| 9 |
| Directorships held outside RFG | | |
|---|
| 10 |
| CEO / CFO / COO experience | | |
|---|
| 11 |
| General Management | | |
|---|
| 12 |
| Tenure – with RFG for up to three years | | |
|---|
| 13 |
| Tenure – with RFG for over three years | | |
|---|
| 14 |
| Operations | | |
|---|
| 15 |
| Occupational Health and Safety | | |
|---|
| 16 |
| Experience Managing Environment Issues in an Organisation | | |
|---|
| 17 |
| Project Delivery | | |
|---|
| 18 |
| Sector / Industry Experience – Retail/Franchising | | |
|---|
| 19 |
| Geographic Experience – Global | | |
|---|
| 20 |
| Geographic Experience – Asia Pacific | | |
|---|
| 21 |
| International Business | | |
|---|
| 22 |
| Finance | | |
|---|
| 23 |
| Accounting | | |
|---|
| 24 |
| Mergers and Acquisitions / Equity / Capital Markets | | |
|---|
| 25 |
| Experience in Growing a Business | | |
|---|
| 26 |
| Experience in Implementing Capital Projects | | |
|---|
| 27 |
| Banking | | |
|---|
| 28 |
| Business Development | | |
|---|
| 29 |
| Risk Management | | |
|---|
| 30 |
| Marketing | | |
|---|
| 31 |
| Remuneration | | |
|---|
| 32 |
| Government Relations | | |
|---|
| 33 |
| Human Resources Management / People | | |
|---|
| 34 |
| Professional Services | | |
|---|
| 35 |
| Gender Diversity – worked with females on Boards | | |
|---|
| 36 |
| Technology in Retail//Franchising | | |
|---|
| 37 |
| Tertiary Qualifications | | |
|---|
| 38 |
| Post-Graduate Business Studies and CA or CPA | | |
|---|
| 39 |
| Residency in Australia | | |
|---|
| 40 |
| Residency outside Australia | | |
|---|
Further columns for the other directors and last a total column are needed for a full picture.
After reading the above consider whether the Board has the correct composition/skills.
Additionally, there appears to be a shortfall in experience related to RFG's industry. If so, how can the Board and particularly the chairman interrogate the MD on operational/strategic matters?
(20min delay)