What Defines 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. For a chairman to be effective in his duties, he should have a good relationship with all the directors. Their relationship should be honest, transparent and they should be able to trust one another. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.
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. Moreover, the chairman should always ask relevant questions regarding various issues in the company. A good chair needs to know the mission of the board and how to measure the progress of the company. He should be able to offer guidance to the organization while still helping to secure external resources outside 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. He should mainly offer support to the management team.
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. A chairman is able to figure out what problems the company could be facing at all times. Running the organization, bringing together the senior management team and other members of the organization are what describes an effective chairperson.
In case of a crisis in the organization, a good chairman is able to put the interests of the company first. While tackling the problem, he should always remember the set mission by the organization. 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.
A good chairperson knows when and how to step down from an organization. He suddenly does not step down from his position without any warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. 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.