Navigating board leadership: The view from the chair
Leadership in the boardroom is a multifaceted journey that requires a blend of diverse experiences, proactive engagement, and strategic preparation. At the Next Gen Board Leaders Summit, seasoned board chairs including Alicia Syrett, Founder of Madam Chair, provide valuable insights on what it takes to lead a board effectively and create a strong boardroom culture.
The path to board leadership
Board chairs typically reach their positions through a combination of executive experience, committee work, and active involvement in board matters.There’s no set formula, but diverse backgrounds and a bias for action are essential. Continuous learning, such as seeking out mentors and familiarizing oneself with board and committee responsibilities, can help build the necessary skills and credibility. That said, it's also crucial for aspiring chairs to be realistic about the time commitment required for the role.
Resources and practices for effective board chairs
To excel in the chair role, familiarity with key resources like 'Robert’s Rules of Order' and practical articles like 'How to be a Good Chair' can provide a solid foundation. But it’s the consistent habits that matter most. Strategic use of the agenda, starting meetings with planning and forward-looking topics, and conducting pre-meeting calls with directors can clarify priorities and foster alignment. Engaging directly with shareholders and proxy advisors is vital for anticipating issues and building trust. Regular communication with the CEO and fellow directors, as well as creating an environment where directors feel comfortable raising tough questions and dissenting views is also crucial.
Priorities in leading the board
- Overseeing strategy and governance: A good board chair acts as the 'conductor of the orchestra,' responsible for ensuring the board operates cohesively.
- Benchmarking and standards: Effective chairs take their responsibilities seriously, benchmark against other boards, and seek regular feedback from the CEO and fellow directors.
- Making the most of meeting time: By prioritizing strategic planning, sharp agendas, and candid discussion, the chair can drive more meaningful outcomes in limited meeting time.
Maintaining a strong boardroom culture
Culture starts with the chair – and a robust boardroom culture is essential for the board's effectiveness. Regular assessments, ideally conducted by third parties to gather unfiltered feedback, are critical. The chair should act on this feedback and actively reinforce high expectations for board conduct and performance. By identifying and actively drawing out the strengths of each board member, the chair can ensure that the board remains a dynamic and effective decision-making body.
In summary, effective board leadership requires more than experience – it calls for preparation, intentionality, and a commitment to fostering a strong, cohesive boardroom culture. By following the insights shared by experienced chairs, aspiring leaders can better navigate the complexities of board leadership and contribute to the success of their organizations.
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