The Definition of a Good Chairman
The role of the chairman has become high in profile and the expectations multiplied over time. Shareholders and directors require to have a chairman that is passionate about his job on governance of the company and also very active in his roles. For a chairman to be effective in his duties, he should have a good relationship with all the directors. Their relationship should be honest, transparent and they should be able to trust one another. 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. A good chairman should provoke positive challenges to the directors to improve various areas of the company. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. A good chair needs to know the mission of the board and how to measure the progress of the company. Offering guidance is a major role of the chair and finding new ways to purchase important resources for the company. The position of the chairman does not allow him to run the company and he should be able to recognize that. His main role is to reinforce the directors and other senior officials.
A chair is required to just put in a few hours if his time to carry out his duties. This is because he does not have too many roles within the organization. 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. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.
In case there is a big issue in the company, the chair should be able to dedicate his time to trying to solve it. The mission of the company is the most important detail; hence the chair cannot afford to forget it. 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.
When a chair is ready to step down, he should always know how to do it and when. He does not wake up one morning and decide not to carry out his duties anymore. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This gives the organization to start looking for a replacement. The outgoing chairperson gets an opportunity to hand over his roles to his successor.