Stefan Borson: Everton could appoint new directors in boardroom twist

Everton could benefit from appointing new independent directors to the board to help with the decision-making process and provide some reassurance to the fans.

That is the view of finance expert Stefan Borson, who exclusively told Football Insider the current board is mostly made up of experts in infrastructure projects and close associates to owner Farhad Moshiri rather than people with expertise in corporate finance and the sale of assets.

Everton financial expert The Esk suggested on 31 July it could be an option for Moshiri to add independent directors to the board to provide reassurance in terms of current governance and in the selection of future purchasers.

It comes after the Merseyside giants have seen two takeover bids from 777 Partners and The Friedkin Group collapse over the past few months.

Everton board currently too reliant on Farhad Moshiri decisions

Borson suggested the current board at Goodison Park is perhaps too thin and overly reliant on Moshiri’s decision making.

“From what we can see from the outside, that management team is quite thin and it’s quite reliant at the top in terms of decision making on Moshiri,” Borson told Football Insider.

“I think the point The Esk is making is surely it would be good for the club but also for the other stakeholders outside of Moshiri to have somebody independent who could assist the board with their decision-making process, the issues Friedkin had that forced him to pull out, and offer the fans a level of reassurance that the decision making was more than just the principal shareholder and there was some independent, high-quality analysis pushing back if necessary.

“You would find on the boards of most publicly listed companies they would have at least one and probably two or three independent directors who are independent of the principal shareholder and the chairman.

“In this situation, Everton seem to have people whose expertise is either not corporate finance, corporate restructuring, the sale of assets and not experts in debt but more experts in infrastructure projects or people who are close to Moshiri.

“I think the point he’s making is the board seems unbalanced in terms of its skillset and, therefore, is asking ‘Could a better result be achieved if there were one or two people to supplement the existing board in making those decisions over the next few months because it’s such a complicated situation?’.

“I think it’s a reasonable point.”

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The post Stefan Borson: Everton could appoint new directors in boardroom twist appeared first on Football Insider.