ABC Tech Ltd$.,$ a rapidly growing technology firm, is preparing to expand its operations internationally. The companys board currently consists of five executive directors, all of whom have been with the company since its startup phase. As the company moves towards listing on a major stock exchange, the CEO is under pressure from investors to restructure the board to improve governance standards. Key stakeholders are pushing for the inclusion of independent directors and greater diversity. Additionally, there are concerns about potential conflicts of interest and a lack of specialized knowledge relevant to the new markets.Question:$1.$Examine how the composition and structure of ABC Tech Ltd$.\text{'}$s board may affect its ability to implement effective corporate governance practices during its transition to a publicly listed company. $2.$Evaluate strategic changes you would recommend aligning the board formation with the best governance standards.