In the ever-evolving realm of corporate governance, the role of a board chair is pivotal. A proficient board chair can steer the board toward success, fostering a culture of trust, inclusivity, and strategic excellence. But what exactly makes a board chair effective? To gain insights into this topic, we turn to Roberta Sydney, a seasoned professional with over 20 years of experience in board leadership, corporate governance, and commercial real estate. Roberta’s unique perspective is invaluable, gained from successfully leading numerous boards through challenging times and helping them be a strategic asset to management in achieving strategic goals. Let’s delve into the multifaceted responsibilities that define great board leadership and those that Roberta relies on most heavily as Board Chair.
Building Trust: The Foundation of Success
Trust isn’t just a desirable quality; it’s the bedrock of a successful board. As board chair, your role in cultivating trust with management and each board director through open, transparent communication and consistent support is not just crucial; it’s monumental. For instance, regular one-on-one meetings with the CEO and board members can foster a sense of openness and trust. Your ability to convene constructive conversations is instrumental in fostering strong, collaborative relationships by creating an environment where all board members feel valued and heard and by being receptive to constructive feedback. This empowerment is not just a key to driving the organization’s success; it’s a necessity that underscores the significance of your role.
Emotional Intelligence: The Heart of Leadership
Emotional intelligence (EQ) is not just a trait; it’s the cornerstone of effective board leadership. Understanding and drawing upon each board member’s unique strengths and perspectives ensures better decisions since all voices are heard and valued in the decision-making process. By facilitating inclusive and open discussions, where all board members are encouraged to share their perspectives and concerns, and paying attention to what is being said and how it’s being said, you help promote a culture of respect and drive better, more balanced decisions. Your role is to create a space where every board member feels appreciated and empowered to contribute when appropriate. Modeling emotional intelligence can also inspire and motivate board members and management to further develop this trait, recognizing its pivotal role in fostering inclusive and better decision-making.
Facilitating Decision-Making: Guiding the Way
A key role of the board chair is to set the stage for effective decision-making. This involves ensuring that clear criteria have been established and helping the board evaluate alternatives presented by management, often led by the CEO. For instance, consider a chair who, together with the CEO, sets a clear board meeting agenda and ensures that relevant information is shared in advance with the board members. The chair explicitly draws out or frames the important matters for board consideration. This way, the chair ensures that board members have access to comprehensive information about management’s recommendations, enabling better questions and leading to more informed and strategic decisions. It’s like being the navigator on a ship, guiding the board through complex waters with clarity and precision.
A board chair’s role is multifaceted and demanding, requiring a balance of trust-building, emotional intelligence, and strategic guidance. By fostering an environment of trust, understanding, and effective decision-making, a board chair can lead their board to success. Roberta Sydney’s insights highlight the importance of these qualities and provide a roadmap for aspiring and current board chairs to follow. Embracing these responsibilities can drive the board and the organization toward achieving its strategic goals.
