Qualities That Define a Good Chairman
The role of the chairman has become high in profile and the expectations multiplied over time. 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. 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.
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. 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 chairman, however, need to realize that he does not run the organization. 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. 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. A chairman is able to figure out what problems the company could be facing at all times. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.
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 great chairman should follow the right procedure when he is ready to resign from his duty. He does not wake up one morning and decide not to carry out his duties anymore. 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.