Question 2 (20 marks) WV Ltd is a large motor Manufacturer in Australia and has currently engaged your services as an ethics and governance adviser. As part of your information gathering process the following matter come to your attention: Product Safety Concerns The company is about to release the latest version of its popular selling diesel SUV model, in the coming months and it has been discovered that the braking system is only 80% efficient. Despite this the company is still intent on a massive product launch and an aggressive marketing campaign for sale of this motor vehicle. Governance Issues The following governance related issues are identified: There are no independent directors for the past year financial year. There has not been a Remuneration Committee for the last four years and all the executive directors remuneration are all linked to profitability from operations. There is no whistleblowing policy. One of the executive directors is a shareholder of major supplier of electronics components for the last seven years. Majority of the directors are male, of the same culture and have not incorporated LGBT personnel in the management team. The CEO of the company wishes to improve the companys corporate governance and legal compliance. Required: 200 words for each answer Briefly explain to the CEO of WV Ltd, the consequences of the planned marketing and sale of the new diesel SUV, from a consumer ethics and Australian Consumer Law point of view. (5 marks) Advise on how to rectify the governance concerns weaknesses in the companys corporate governance structures for all issues mention in (a) to (e) with reference to the The ASX Corporate Governance Councils Corporate Governance Principles and Recommendations (3 marks each, total 15marks)