Bolington Ltd is a rapidly growing company presently owned by the Bolington family. It sells designer clothing and accessories which it sources from around the world and trading results are exceeding expectations. The family is looking to cash in on the success of the business and also provide some capital for expansion, so they have decided to float the company on the Stock Exchange. At present the board of directors consists of Mark Bolington, who is Chair and CEO, and his two sons Dave and Phil who are Sales and Buying Directors respectively. They are going to appoint Bill Sticker, who is presently the Chief Accountant, as Financial Director just before the flotation. The auditors, Tickitt & Run, are a little concerned that the Stock Exchange will find the level of corporate governance unacceptably low, if not actually non-existent. They think they should tell Mark Bolington, who is fairly dogmatic and not a man who likes others interfering in his business, what he needs to do to comply with aspects of the listing agreement.

– What will Bolington Ltd need to do in order to start complying with some of the key aspects of corporate governance?