What Defines a Good Chairman
The role of the chairman has become high in profile and the expectations multiplied over time. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. 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. The two parties have to understand that they have different roles for them to work together successfully.
A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. 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. While still helping the organization by offering guidance, he should be able to acquire resources that would be of use within the organization. The chairman, however, need to realize that he does not run the organization. Support to the organization is his primary role.
A chairman does not have to spend all his time in the organization as his roles are not demanding. 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. A chairman is able to figure out what problems the company could be facing at all times. 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. He should be able to think about the long-term goal of the organization while bearing in mind the mission of 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 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 gives the organization to start looking for a replacement. 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.