The Definition of a Good Chairman
The role of the chairman has become high in profile and the expectations multiplied over time. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. 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. They both need to recognize that they have different duties for them to work harmoniously.
A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. 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. 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. 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. His main role is to reinforce the directors and other senior officials.
A chairman does not have to spend all his time in the organization as his roles are not demanding. He should not be involved in too much of the organization’s work either. 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. 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 there is a big issue in the company, the chair should be able to dedicate his time to trying to solve it. 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 step down abruptly without any previous 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 chairperson gets an opportunity to hand over his roles to his successor.