Qualities That Define 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. Their relationship should be honest, transparent and they should be able to trust one another. The two parties have to understand that they have different roles for them to work together successfully.
A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. 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 chairperson is always aware of the long-term vision 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. 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. 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. An experienced chairman should be able to understand other people’s feelings and also the company. 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.
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 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 will allow the company to have enough time to look for a successor. 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.