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. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. They both need to recognize that they have different duties for them to work harmoniously.
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. Whenever he needs information on particular issues, he should be able to ask the right questions. A good chairperson is always aware of the long-term vision 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 chairman does not have to spend all his time in the organization as his roles are not demanding. 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. 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.
When a chair is ready to step down, he should always know how to do it and when. He suddenly does not step down from his position without any warning. 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. Also, the resigning chairperson gets to meet the new chairman like Hussain al Nowais and gets to introduce him to major team players within the organization.
Attributed by: Going Here