Qualities That Define a Good Chairman
The role of a chairperson has become well recognized, and the expectations are consistently growing. Shareholders and directors require to have a chairman that is passionate about his job on governance of the company and also very active in his roles. 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. He should be able to provide a constructive level of challenge to the senior management team. 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. 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 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. 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. 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 wake up one morning and decide not to carry out his duties anymore. 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.