You are requested to write up a report, which addresses the relationship between corporate governance and corporate performance. As a means of illustrating this relationship, you are to conduct a critical analysis of the problems that took place at James Hardie Industries Limited in the 1970s onwards.As the recently appointed company secretary, you have been requested to present a paper to the board of directors, which addresses the relationship between corporate governance and corporate performance. As a means of illustrating this relationship, you are to conduct a critical analysis of the problems in corporate governance at James Hardie and identify how the principles of corporate governance failed. The relationship of the board to all stakeholders must be considered concluding with a coherent assessment of how the situation could have been averted.Specific areas to be addressed are:• Identify the deficiencies in the system of corporate governance of James Hardie Industries Limited.• Describe the circumstances which led to their breakdown.• Recommend strategy/ies that should have been implemented so as to avoid the breakdown.• Detail the lessons to be learned from this case study