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. The relationship between the Chairman and the chief executive officer should be good to ensure the success of both of them. These two offices should be able to have confidence in each other through means such as open conversations. 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. While still helping the organization by offering guidance, he should be able to acquire resources that would be of use within the organization. It would be very disappointing if the chairman does not realize that it is not his job to run the business but to ensure that it is running well. 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. Since he does not run the company, he does not have much work. 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. 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. 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 great chairman should follow the right procedure when he is ready to resign from his duty. He does not step down abruptly without any previous warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. The company there is able to get adequate time to search for someone else to fill in that position. 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.