Are Business skills really needed to run a company?

It was a fairly straight forward annual report for a public company:

"Financial position
The net assets of the Company have increased from $8,008 as at 30 June 2009 to $191,448 as at 30 June 2010, which is an improvement on prior year due to the improved operating performance of the Company.
The Directors believe the Company is in a stable financial position."