Question # 4 (50 points) Answer the following independent cases. (1) Identify and explain the corporate governance issues in each case. Support your answer with appropriate theory(s) if any. (2) Give recommendations and justify them to the board of directors. A. CAS Company is operating in the filming sector. The company's board of director consists of 9 directors; 6 independent directors and 3 executive directors. Michael is the CEO and chairman of CAS. He appointed his personal lawyer and architect to be independent members of the board. During 2019, CAS's profit had fallen 30% and its share price declined. At the same year, Michael received a $1,000,000 bonus for his work. Institutional investors raised issues related to the company's overall poor performance and the lack of succession long-term plans for Michael. They commented that CAS is directed by its management