Unfortunately many folks still believe that Boards are competent individuals with a strong interest in the company that they are on the Board of AND that they have commonsense and logic and business instincts - WRONG!!
Most Boards of public ASX companies are old cronies - way passed their use-by date and seriously are a joke.
Unless the Board is relevent to the company and the Board memebers hold sh*tloads of shares and actually are aware of what their company does (trust me - this is also a LONG bow to use) then they are next to useless.
My favourite useless boards include CSR, PBG, BBG etc etc
update on unsolicited approach from eb private, page-40
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