Corporate governance

“Trucks are the backbone of Australia and will continue to work round-the-clock — as they have done for the last 55 years. I cannot think of a simpler business — buy a truck, get someone to drive it, and a few days later — the customer settles the account. Involving lawyers and consultants in expensive suits will make matters unnecessarily complicated”.
The company’s COO, Jacob Gardner (Mrs Rose’s 26 year-old son), is genuinely concerned about what these potential investors are demanding. He stated,
“Corporate governance always slows down the board’s decision-making process and makes running a company unnecessarily complicated, hindering innovation and creativity. For example, I want to add autonomous vehicles to our fleet. Any formal governance structure might delay such adaptation.
Provided we aren’t in trouble with the tax of and the corporate watchdog, the board’s key priority remains maximising shareholder returns. Therefore, we shouldn’t be worried about compliance issues, which are unlikely to get audited. And even if we do get audited, it is better to pay a small fine instead of investing thousands, possibly millions, of dollars in meaningless and endless compliance and “tick-the-box” exercises.
A family-run business should always focus on performance and not so much on conformance. We have to stop this madness”.
Jacob is confident that Focus’s legal counsel, Melissa Wright (Jacob’s childhood friend and a current law student), will concur with his views. Unfortunately, Melissa was unable to attend the meeting because she is on extended personal leave.