The Champion Chairman
Understanding the Top Ten Traits of an Excellent Board Chairman
As spotlights continue to glare on governance as a business concern, more and more attention shifts to a role that has long been a title of status and post of privilege. It’s becoming clear that Chairman of the Board is a designation with responsibility, not rights.
Whether you’re looking for a great chairman or wishing to be one yourself, you’ll want to be well aware of the top ten traits that distinguish a champion chairman.
Outstanding record of integrity and trustworthiness
Character qualities are an absolute must of any person serving in this highly responsible role. Purdy Crawford, former chairman of Imasco and Canada Trust and Chair of the Five-Year Review Committee examining securities legislation in Ontario, advocates that “the number one responsibility of a Board of Directors is to be the guardian of corporate values... to make sure that the CEO and the other leaders are people of integrity and that they ‘walk the talk’.” For this to be possible, a board needs the chairman to be both an example and a proponent of integrity.
Bias to take leadership
Champion chairs don’t sit still in a leadership vacuum. They take action. Board members—as much as they are leaders in their own right—expect the chair to fulfill the role as leader of the board when handling meetings, addressing problems in the company, and confronting challenges within the board.
Passion for the company and its mission
Without passion fuelling the chairman’s involvement, she will only be doing a job. This role demands more. Having a vision for what the business could be will drive her commitment to do much more.
Excellent communication skills, both written and verbal
Communication is a two-way process that allows for exchange of meaning. Listening is essential—some say we have two ears and one mouth and they should be used in that proportion! When the chairman has spoken—or written—you want people to understand the message clearly.
Self-confidence balanced with humility
People are looking to follow someone who knows where he’s going. Self-confidence is key. But taken too far, it’s dangerous. Humility keeps it in check. And humility provokes him to seek feedback from his peers, to be open-minded to the opinions of others, and to ask board members what they expect of the chairman.
Commitment to building a high-performing leadership team, promoting both results and relationships
The fact is... results are required or the company fails. The champion chairman artfully combines a determination to get results with an understanding that results come from people. Highest results come from a team that knows each other and draws on each others’ strengths and talents, supporting every individual. To foster this, Purdy Crawford advises that a chairman is wise to stay in touch with each director – contacting them by phone, occasionally meeting for lunch, and perhaps identifying items for in camera discussion.
Solid understanding of the distinction between governance and management
The experiences of each director will lure them into operational details so the chairman is pivotal in helping the board do the board’s job and allowing management to do its job.
Thorough knowledge of meeting procedures
Whether it’s parliamentary procedure or some other shared code for operating a meeting, the chairman must know it and follow it naturally so everyone can relax and focus on the purpose of the meeting rather than the process. As basic as this ability sounds, it is imperative for a champion chairman.
Ability to build consensus
Decision making is not just about majority votes. It’s about agreeing on the best answers to challenging problems. Joe Martin, a seasoned corporate director and a professor at Rotman School of Management, emphasizes this important skill of the chairman and describes it as “finding the highest common denominator.” Consensus builds commitment to a course of direction and reinforces the value of teamwork.
Familiarity with people, public relations and ‘politics’
Savvy in dealing with people and in the public arena is a critical skill for the chairman who will typically be called upon as the spokesperson. She will need to be aware of the games people play and the traps they tend to set.
You’ll notice that being a champion chairman goes well beyond meeting management. It’s a responsibility that requires time and talent before, during, and after meetings. It’s a role that demands character, competence, and confidence. And the reward of excellent chairing is a board completely fulfilling its job of governing the business – directing and protecting in the best interest of the company’s owners.
Login
In Stores Now
