What Defines 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 success of a Chairman like Hussain al Nowais depends on how good his relationship with the chief executive is. 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.
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 chairperson is always aware of the long-term vision 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. 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. However, he should interact with the staff, customers, and investors from time to time. 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. He should be able to think about the long-term goal of the organization while bearing in mind the mission of 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. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. This will allow the company to have enough time to look for a successor. 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.