Qualities That Define 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. 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. The two parties have to understand that they have different roles for them to work together successfully.
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. 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. Support to the organization is his primary role.
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. However, he should interact with the staff, customers, and investors from time to time. 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.
When a chair is ready to step down, he should always know how to do it and when. He does not step down abruptly without any previous 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. 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.