There are a total of eight directors whose number of executive and non-executive directors is not well balanced with two executive directors and six non-executive directors. In addition, four directors meet the formal criteria for “independent directors” (Securities Commission New Zealand, 2011). The board of directors has a wide range of skills and knowledge from each director, such as jewelry retailing, marketing, real estate development, investment management, interior design and accounting (MHI, 2014). Each director has a wealth of experience in the particular area of ​​expertise which allows the board of directors to have a 360° vision of the management of a company, better perspectives on its development and to work more efficiently and