Most of the directors of Dalm Company are members of the Kanwa family. The Kanwa family also runs the day-to-day operations of the company. There is no problem in the understanding of the family members in running the business. The company is making good profits and the operations are running smoothly. As the company is growing, the internal and external stakeholders want a professional board with good governance. Although there is no problem in the functioning of the business, the stakeholders have decided to make changes to the board.

Required:

Critically discuss the selection, composition and remuneration of the board of directors, including King IV report recommendations.