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. 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. They both need to recognize that they have different duties for them to work harmoniously.
For a chairman to be effective, he should have good knowledge about the business he is in. He should be able to provide a constructive level of challenge to the senior management team. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. A good chairperson is always aware of the long-term vision of the company. Offering guidance is a major role of the chair and finding new ways to purchase important resources for the company. The chairman, however, need to realize that he does not run the organization. Support to the organization is his primary role.
A chairman, however, should make sure that he devotes just the right amount of time to the roles he is supposed to take care of. He should not be involved in too much of the organization’s work either. When the chairman is in the business premises, he can interact with the customers, investor or workers to see how business is running as Mr. Hussain al Nowais does. An experienced chairman should be able to understand other people’s feelings and also the company. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.
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. A good chair should always be selfless when problems arise until they are well resolved.
A great chairman should follow the right procedure when he is ready to resign from his duty. He suddenly does not step down from his position without any warning. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. This will allow the company to have enough time to look for a successor. The outgoing chairperson gets an opportunity to hand over his roles to his successor.
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