The Definition of a Good Chairman
The role of the chairman has become high in profile and the expectations multiplied over time. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. 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.
It is crucial for a good chairman to be familiar with the industry he is working in to ensure maximum efficiency. He should be able to provide a constructive level of challenge to the senior management team. Moreover, the chairman should always ask relevant questions regarding various issues in the company. For a good chair to know the progress of the company, he should be accustomed to the mission and goals 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 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. 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. 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.
If the company runs in a crisis, the chair is supposed to intervene quickly and offer necessary guidance on how to deal with the menace. The mission of the company is the most important detail; hence the chair cannot afford to forget it. A good chair should always be selfless when problems arise until they are well resolved.
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. 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.