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. 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.
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. Moreover, the chairman should always ask relevant questions regarding various issues in the company. 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. It would be very disappointing if the chairman does not realize that it is not his job to run the business but to ensure that it is running well. 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.
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. He should be able to set aside his interests for the benefit of the organization; which includes helping to solve any of the problems around.
When a chair is ready to step down, he should always know how to do it and when. He suddenly does not step down from his position without any warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This gives the organization to start looking for a replacement. 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.