The Qualities and Experience needed to be a Excellent Chairperson

The Chairperson (also chair, chairman, or chairwoman) is the presiding officer of an organised group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group, presides over meetings of the group, and conducts the group's business in an orderly fashion.

The role of the Chairperson has become much higher in profile and the expectations have increased as, quite rightly, stakeholders now expect an engaged, energetic and involved Chairperson who does more than simply manage the corporate governance process. A successful person with knowledge and experience to lead the way forward for the organisation to become more successful.

The success of a Chairmanship undoubtedly hinges on the relationship the Chairperson has with the Chief Executive and other Directors/Partners, a relationship which should be centered on honesty, trust and transparency. The success of this relationship is based on mutual understanding by both parties of the distinction between the roles.

Effective Chairperson must have an extremely good knowledge of the business they are chairing, they must know enough to ask the right questions, and must provide a constructive level of challenge to the Chief Executive and other Directors/Partners. One of the main faults of Chairperson deemed to be ineffective is their failure to comprehend that they are not there to run the business, and that their role is instead to support and guide. In simple terms, the job of the Chairperson is to ensure that the business is well run and not to run the business. A Chairperson is Catalysis to guide the Chief Executive/other Directors/Partners to success.

There is, however, a fine line to walk between being too involved and being too remote. This means Chairperson should devote the appropriate level of time to their roles, which means visiting operations, talking with staff and customers, as well as investors. The best Chairperson is able to develop an empathy with the business and engage with its people and issues. But there is no “one-size-fits-all” prescription for an effective Chairperson. The right level of engagement will vary depending on the company’s stage in the business cycle, competitive environment and the experience of the Chief Executive.

What ultimately defines a good Chairperson is the ability to run an effective board and to manage relationships with both shareholders and stakeholders.

The qualities of an outstanding Chairperson are:

Charismatic personality.

Good communicator and listener.

Clear sense of direction.

Strategic view – The Big Picture.

Allow chief executives to get on with their job.

Good at governance.

Broad experience.

Business acumen.

Able to gain shareholders’ confidence.

Able to get to the key issues quickly.

Ability to Chair Meetings. Boards of Directors/Partners meet only a few times a year, but they make decisions that define the organisation’s destiny for years to come.

Understanding the Business. An exceptional Chairperson understands the business, its culture, people and processes. They also understand the wider industry and prepare the Company for all eventualities.

Ability to Influence Others, Without Dominating. A good Chairperson is responsible for ensuring that all Board members are using their own unique skills for the good of the organisation.

Strong Personality. The role of the Chairperson is a difficult job. They have ultimate responsibility for Board performance.

Good Communication. One of the exceptional Chairperson’s secrets of success is effective communication with all stakeholders.

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The Role of the Chairperson in an initial public offering

The appointment of the right Chairperson is key for a business wishing to IPO. The Chairperson would greatly enhance the prospects of a successful IPO, by building an effective board and calling on their years of experience to ensure the story a company sells to the market is both compelling and real.

Further it is the task for the Chairperson to set the tone at the top and to say what they want the organisation to be, establishing good governance and making sure the business has the right corporate reputation in its community.

In conclusion, a Chairperson has done their job when the “vision for the business”, as set out and presented in the strategic plan to shareholders and stakeholders, has been achieved.

Fresh thinking requires a vision to see beyond the conventional. When you combine excellent quality with outstanding value for money you will begin to realise the full potential of creative and well presented business solutions. Together, the sky`s the limit. Have passion to learn and let the knowledge help you to be successful in life.

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