The role of the chairman has become high in profile and the expectations multiplied over time. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. For a chairman to be effective in his duties, he should have a good relationship with all the directors. 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. 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. 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. Support to the organization is his primary role.
A chairman does not have to spend all his time in the organization as his roles are not demanding. 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. An experienced chairman should be able to understand other people’s feelings and also the company. The ability to run an effective board and make sure there is a good relationship between the shareholders and stakeholders is what defines a good chairman.
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. A good chair should always be selfless when problems arise until they are well resolved.
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. 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.