The Definition of 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. The two should be practice candor and transparency for them to be able to rely on each other. 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. 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. He should be able to offer guidance to the organization while still helping to secure external resources outside 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 chair is required to just put in a few hours if his time to carry out his duties. He should not be involved in too much of the organization’s work either. 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. 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.
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 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. The company there is able to get adequate time to search for someone else to fill in that position. The outgoing chairperson gets an opportunity to hand over his roles to his successor.