Roles and Responsibilities of the Chairman of the Board
The principle role of the Chairman of the Board is to ensure that the Board is effective in its tasks of setting and implementing the Company’s direction and strategy.
The Chairman plays a leadership and pivotal role in ensuring that the Board works effectively. The key roles of the Chairman are:-
- Determining the composition, size and the Board structure in order to create a balance between executive directors and independent directors.
- Ensuring the Board and its committees are properly established, composed and operated.
- Ensuring the effective operation of the Board and its committees in conformity with the highest standards of corporate governance.
- Ensuring the participation of the executives, non-executives and independent directors in the Board’s decision processes and activities.
- Ensuring the whole Board plays a constructive part in developing and determining the Company’s strategy and objectives.
- Ensuring comprehensive induction programs for new directors.
- Acting in the key role of governing the Board and fostering teamwork and mutual dedication for the sustainable success of the organization.
- Engaging the board regularly in assessing and developing its performance and communicating expectations to directors and mange directors’ performance.
- Ensuring that the company has succession plans for senior executives.
- Acting as Chair at the Board’s and Shareholders’ meetings together with setting the agenda in consultation with the Management and the Company Secretary.
- Ensuring that Board members receive accurate, timely, and sufficient information for Board meetings.
- Ensuring that there are sufficient channels for effective communication between the Board members, Management and shareholders.
- Providing independent advice to the Management and Board.
- Appointing the Company Secretary to assist with Board functions.