Corporate Governance- Yakky Yak Case

One size of Board of Directors doesn’t fit every company, and there’s no uniform,
comprehensive set of policies or practices: the “right” ones depend on several factors,
including:1
 the nature of the business;
 the company’s size and stage of development;
 availability of resources;
 shareholder expectations; and
 legal and regulatory requirements.
Benefits. Proponents of corporate governance say there’s a direct correlation between good
corporate governance practices and long-term shareholder value.  Some of the key benefits
are:
 high performance Boards of Directors;
 accountable management and strong internal controls;
 increased shareholder engagement;
 better managed risk; and
 effectively monitored and measured performance.

Question 1: What is the purpose of governance?

Question 2: List and briefly describe the 6 different committees Yakky Yak may include
on their Board and also recommend which committees they should have.

Question 3: What roles/responsibilities should be included in the Board’s mandate?

1
The Top 5 Corporate Governance Best Practices That Benefit Every Company.
https://www.mcinnescooper.com/publications/legal-update-the-top-5-corporate-governance-best-practices-that-benefit-
every-company/ Accessed January 16, 2021
Question 4 Evaluate the proposed board policies and makes recommendations
Weakness Implication Recommendation
Question 5: Evaluate the board composition and provide recommendations

You have asked me to critique your proposed board composition. I have identified
several areas of concern.

Weakness Implication Recommendation