I'm not a funnymentalist so don't know my chairman from my chair, but I do note that some company directors preside over many companies which share a common attribute, poor performance.
It beggars belief that these people can continue to get directorships.
Perhaps as with brokers, tipsheet writers and finance journalists, the hardest thing about the job is getting it.
Once you are in, no matter what a dill you are, the other directorships keep on coming. Its rather like ants passing the message on in a trail towards the sugar.
Perhaps ASIC need to look at performance rather than qualifications or desire.