The Definition of a Good Chairman
The role of a chairperson has become well recognized, and the expectations are consistently growing. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. The relationship between the Chairman and the chief executive officer should be good to ensure the success of both of them. 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.
For a chairman to be effective, he should have good knowledge about the business he is in. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. For a good chair to know the progress of the company, he should be accustomed to the mission and goals 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. He should mainly offer support to the management team.
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. Running the organization, bringing together the senior management team and other members of the organization are what describes an effective chairperson.
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. To solve any problems within the organization, he should be willing to give in a lot of his time until everything is aligned for example Mr. Hussain al Nowais.
A good chairperson knows when and how to step down from an organization. He suddenly does not step down from his position without any warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This will allow the company to have enough time to look for a successor. The outgoing chair should take a few days to introduce his successor to the senior member of the company and pass on any relevant information.
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