The Definition of a Good Chairman
The duties of a chairman have increased in the recent times as well as the expectations. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. For a chairman to be effective in his duties, he should have a good relationship with all the directors. The two should be practice candor and transparency for them to be able to rely on each other. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.
It is crucial for a good chairman to be familiar with the industry he is working in to ensure maximum efficiency. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Whenever he needs information on particular issues, he should be able to ask the right questions. A good chair needs to know the mission of the board and how to measure the progress of the company. He should be able to offer guidance to the organization while still helping to secure external resources outside the organization. The position of the chairman does not allow him to run the company and he should be able to recognize that. Support to the organization is his primary role.
A chair is required to just put in a few hours if his time to carry out his duties. He should not be involved in too much of the organization’s work either. From time to time, he can walk around the organization and see how the employees are progressing and enquire about any challenges they may be facing. Like Mr. Hussain al Nowais, an excellent chairman can develop empathy with the business and engage with the people and any ongoing issues. The ability to run an effective board and make sure there is a good relationship between the shareholders and stakeholders is what defines a good chairman.
In case of a crisis in the organization, a good chairman is able to put the interests of the company first. While tackling the problem, he should always remember the set mission by the organization. He should be able to set aside his interests for the benefit of the organization; which includes helping to solve any of the problems around.
A great chairman should follow the right procedure when he is ready to resign from his duty. He does not wake up one morning and decide not to carry out his duties anymore. He is supposed to share his intention with the management team and directors about resigning from the company at least six to eighteen months before leaving. This gives the organization to start looking for a replacement. The outgoing chairperson gets an opportunity to hand over his roles to his successor.
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