Terms of reference look absolutely straight forward and not controversial at all.
What's missing of course is the verbal stuff about what the Cabinet and the Ministers expectations are. You can guess that is about two things: Money and ensuring that any associated trade unions are destroyed or marginalised if possible. Final point would be to minimise or remove the Governments responsibility for safe air traffic control although I suspect international treaties might get in the way of that idea.
Expect anything that can obviously be contracted out will be contracted out. I could see Serco, Skilled and a few other companies thinking about starting an ATC business.
Of course the airlines would like ATC to be priced "per flight" to load as much as possible of the cost onto GA and vice versa.
As for ATC expereince on a board, yes and no. If you have Directors with very good "bull**** detector" skills you don't need technical skills. Its really the CEO's job to have those skills, on the basis that you cannot tell people to do stuff you do not know how to do yourself.