Analyse the board of Blackmores Limited against these characteristics and discuss if the board meets the characteristics.

1. Independent directors

2. Size of board

3. Diversity

Directors' Profiles Brent W Wallace BCOMM MARKETING, FAICD Chairman and Independent Non-Executive Director Mr Wallace joined the Board in October 2005. He is a co-founder and Chairman of Galileo Kaleidoscope (Galkal), which recently merged with Fiftyfive to create one of Asia Pacific's biggest independent strategic marketing, brand and consumer insight consulting firms that drives growth for dients. Mr Wallace has held senior positions in London and Sydney advertising agencies and until 1996 was Managing Director of Ogilvy & Mather in Australia. Mr Wallace has more than 30 years of international experience in marketing, advertising and research insights across a wide variety of organisations and consumer categories Mr Wallace was Chairman of the Audit and Risk Committee from 2015 until being appointed Chairman of the Board in October 2018. He also is currently a Governor of the World Wide Fund for Nature, the global environmental group, since 1993, and was a Board Director for 10 years 2006 to 2016). He has also held Board positions on ASX-listed and unlisted technology companies in online procurement, education and information 0111111 Christine Holman MACACO Independent Non-Executive Director Ms Holman joined the Board in March 2019 and is Chairman of the People and Remuneration Committee She brings more than 20 years of extensive commercial and Board experience across a variety of areas including mergers and acquisitions, finance, sales, technology, digital transformations and marketing She currently serves on the boards of two ASX companies Wise Tech Global Ltd & CSR Ltd, and on the Board of a Federal Government Business Enterprise, the Moorebank Intermodal Company Ms Holman's previous roles include the CFO and Commercial Director at Telstra Broadcast Services. She also worked for more than a decade in private investment management assisting management and Boards of investee companies on strategy, corporate development and mergers and acquisitions. Ms Holman holds a Master's in Business Administration and a Post Graduate Diploma in Management from Macquarie University and is a Graduate of the Australian Institute of Company Directors' Company Directors Course Ms Holman has previous ASX-listed experience as a Non-Executive Director with HT&E Ltd and Vocus Ltd. David Ansell DA (COMMUNICATION GACD Independent Non-Executive Director Mr Ansell joined the Board in October 2013 and is a member of both the People and Remuneration and Audit and Risk committees. He has enjoyed a highly successful career in consumer facing organisations in Australia, Asia and the United States. He played a pivotal role in the start-up years of Foxtel, was CEO of advertising agency Saatchi & Saatchi, Managing Director of Mars Incorporated in Australia and President of a global Mars unit based in the United States. Mr Ansell has a strong operating and supply chain skill set and a deep understanding of brand and customer strategy He is also Managing Director and Chairman of Jacobs Douwe Egberts ANZ, Australasia's largest pureplay coffee company, where he recently bed a major acquisition and integration project. Mr Ansell is also a Board member of the peak body of cycling in this country, Cycling Australia. John Armstrong BUS, MISA, MAICO Independent Non-Executive Director Mt Armstrong joined the Board in May 2015 and became Chairman of the Audit and Risk Committee in October 2018 Mr Armstrong has more than 30 years' experience in various financial and commercial management roles. His most recent executive role was at SEEK Limited, an ASX 50 listed leading recruitment and education provider, where he was Chief Financial Officer for over 12 years Mr Armstrong's focus was on SEEK's Asian operations and investments, mergers and acquisitions, including directorships of SEEK's business in China, Zhaopin Ltda US listed company and SEEK Asia, which operates across South East Asia. Prior to SEEK he held management roles at Carlton & United Breweries and commenced his career at Ernst & Young Mr Armstrong is a Non- Executive Director of Lovisa Holdings Ltd (since September 2018) Mr Armstrong has previous ASX listed experience as a Non-Executive Director with Melbourne IT and Property Group Marcus C Blackmore AM NO MACD DUNV, UTT Executive Director Mr Blackmore has served on the Board since October 1973. He holds an Honorary Doctorate from Southern Cross University for distinguished leadership in complementary medicines in Australia and an Honorary Doctorate of Letters from Western Sydney University for his distinguished services to business, charity and the broader community Mr Blackmore is an honorary trustee of the Committee for the Economic Development of Australia (CEDA) an Alumnus of Harvard Business School, and an Honorary Fellow of the Heart Research Institute. Marcus Blackmore held the position of Chairman up to 28 February 2017. He has acted as interim Chief Executive Officer since 1 April 2019. Directors' Profiles Brent W Wallace BCOMM MARKETING, FAICD Chairman and Independent Non-Executive Director Mr Wallace joined the Board in October 2005. He is a co-founder and Chairman of Galileo Kaleidoscope (Galkal), which recently merged with Fiftyfive to create one of Asia Pacific's biggest independent strategic marketing, brand and consumer insight consulting firms that drives growth for dients. Mr Wallace has held senior positions in London and Sydney advertising agencies and until 1996 was Managing Director of Ogilvy & Mather in Australia. Mr Wallace has more than 30 years of international experience in marketing, advertising and research insights across a wide variety of organisations and consumer categories Mr Wallace was Chairman of the Audit and Risk Committee from 2015 until being appointed Chairman of the Board in October 2018. He also is currently a Governor of the World Wide Fund for Nature, the global environmental group, since 1993, and was a Board Director for 10 years 2006 to 2016). He has also held Board positions on ASX-listed and unlisted technology companies in online procurement, education and information 0111111 Christine Holman MACACO Independent Non-Executive Director Ms Holman joined the Board in March 2019 and is Chairman of the People and Remuneration Committee She brings more than 20 years of extensive commercial and Board experience across a variety of areas including mergers and acquisitions, finance, sales, technology, digital transformations and marketing She currently serves on the boards of two ASX companies Wise Tech Global Ltd & CSR Ltd, and on the Board of a Federal Government Business Enterprise, the Moorebank Intermodal Company Ms Holman's previous roles include the CFO and Commercial Director at Telstra Broadcast Services. She also worked for more than a decade in private investment management assisting management and Boards of investee companies on strategy, corporate development and mergers and acquisitions. Ms Holman holds a Master's in Business Administration and a Post Graduate Diploma in Management from Macquarie University and is a Graduate of the Australian Institute of Company Directors' Company Directors Course Ms Holman has previous ASX-listed experience as a Non-Executive Director with HT&E Ltd and Vocus Ltd. David Ansell DA (COMMUNICATION GACD Independent Non-Executive Director Mr Ansell joined the Board in October 2013 and is a member of both the People and Remuneration and Audit and Risk committees. He has enjoyed a highly successful career in consumer facing organisations in Australia, Asia and the United States. He played a pivotal role in the start-up years of Foxtel, was CEO of advertising agency Saatchi & Saatchi, Managing Director of Mars Incorporated in Australia and President of a global Mars unit based in the United States. Mr Ansell has a strong operating and supply chain skill set and a deep understanding of brand and customer strategy He is also Managing Director and Chairman of Jacobs Douwe Egberts ANZ, Australasia's largest pureplay coffee company, where he recently bed a major acquisition and integration project. Mr Ansell is also a Board member of the peak body of cycling in this country, Cycling Australia. John Armstrong BUS, MISA, MAICO Independent Non-Executive Director Mt Armstrong joined the Board in May 2015 and became Chairman of the Audit and Risk Committee in October 2018 Mr Armstrong has more than 30 years' experience in various financial and commercial management roles. His most recent executive role was at SEEK Limited, an ASX 50 listed leading recruitment and education provider, where he was Chief Financial Officer for over 12 years Mr Armstrong's focus was on SEEK's Asian operations and investments, mergers and acquisitions, including directorships of SEEK's business in China, Zhaopin Ltda US listed company and SEEK Asia, which operates across South East Asia. Prior to SEEK he held management roles at Carlton & United Breweries and commenced his career at Ernst & Young Mr Armstrong is a Non- Executive Director of Lovisa Holdings Ltd (since September 2018) Mr Armstrong has previous ASX listed experience as a Non-Executive Director with Melbourne IT and Property Group Marcus C Blackmore AM NO MACD DUNV, UTT Executive Director Mr Blackmore has served on the Board since October 1973. He holds an Honorary Doctorate from Southern Cross University for distinguished leadership in complementary medicines in Australia and an Honorary Doctorate of Letters from Western Sydney University for his distinguished services to business, charity and the broader community Mr Blackmore is an honorary trustee of the Committee for the Economic Development of Australia (CEDA) an Alumnus of Harvard Business School, and an Honorary Fellow of the Heart Research Institute. Marcus Blackmore held the position of Chairman up to 28 February 2017. He has acted as interim Chief Executive Officer since 1 April 2019